Gap Inc. Reports March Sales Results

Gap Inc. Reports March Sales Results

SAN FRANCISCO - April 07, 2016 - (BUSINESS WIRE) - Gap Inc. (NYSE: GPS) today reported that net sales for the five-week period ended April 2, 2016 were $1.43 billion compared with net sales of $1.53 billion for the five-week period ended April 4, 2015.

“While March proved challenging, we remain focused on taking the necessary steps to improve results across the portfolio throughout the year," said Sabrina Simmons, chief financial officer, Gap Inc.

March Comparable Sales Results

Gap Inc.’s comparable sales for March 2016 were down 6 percent versus a 2 percent increase last year. Comparable sales by global brand for March 2016 were as follows:

  • Gap Global: negative 3 percent versus negative 7 percent last year
  • Banana Republic Global: negative 14 percent versus negative 3 percent last year
  • Old Navy Global: negative 6 percent versus positive 14 percent last year

The company noted that it is entering April with more inventory than planned which the company expects will pressure its gross margin rate for the first quarter of fiscal year 2016.

Additional insight into Gap Inc.’s sales performance is available by calling 1-800-GAP-NEWS (1-800-427-6397). International callers may call 706-902-4949. The recording will be available at approximately 1:15 p.m. Pacific Time on April 7, 2016 and available for replay until 1:15 p.m. Pacific Time on April 15, 2016.

April Sales

The company will report April sales at 1:15 p.m. Pacific Time on Monday, May 9, 2016.

About Gap Inc.

Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brands. Fiscal year 2015 net sales were $15.8 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,300 company-operated stores, over 400 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

SOURCE Gap Inc.

Contacts:

Jack Calandra
Gap Inc.
Investor Relations
415-427-1726
Investor_relations@gap.com

Jennifer Poppers
Media Relations
 415-427-1729
Press@gap.com

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Homewatch CareGivers
Homewatch CareGivers gives entrepreneurs a proven path to financial success as well as the opportunity to make a positive change in the world. We are...
Big Whiskey's American Restaurant & Bar®
Big Whiskey's American Restaurant & BarĀ® has become a legend in Missouri over the last 10 years. Now franchising to exceptional operators across...
Kona Ice
We have a question for you. What determines the success of a franchise? Is it luck? Coincidence? Kona Ice was ranked #1 New Franchise in Entrepreneur...
ZIPS Dry Cleaners
ZIPS, since 1996, began as eight dry cleaners in the Baltimore-Washington, D.C., metro area and has grown to more than 40 stores. Find out more.
Blaze Pizza
Blaze Pizza, the recognized world leader in fast, artisanal pizza, is looking to add to our team of top-tier franchise partners.
Share This Page

Subscribe to Franchising Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.