Gap Inc. Reports May Sales Results

Gap Inc. Reports May Sales Results

SAN FRANCISCO - June 02, 2016 - (BUSINESS WIRE) - Gap Inc. (NYSE: GPS) today reported that net sales for the four-week period ended May 28, 2016 decreased 5 percent to $1.18 billion, compared with net sales of $1.25 billion for the four-week period ended May 30, 2015. Gap Inc.’s comparable sales for May 2016 were down 6 percent versus a 1 percent decrease last year.

“As we move into the second quarter, we are continuing to make progress against our recently announced measures while maintaining the financial discipline we are known for,” said Sabrina Simmons, chief financial officer, Gap Inc.

Comparable sales by global brand for May 2016 were as follows:

  • Gap Global: negative 3 percent versus negative 6 percent last year
  • Banana Republic Global: negative 11 percent versus negative 5 percent last year
  • Old Navy Global: negative 7 percent versus positive 6 percent last year

The company noted that while the overall month was challenging, performance improved leading into the Memorial Day holiday weekend.

As previously noted, the Sunday and Monday of the Memorial Day holiday fell in the fiscal month of June this year versus May last year, negatively impacting May sales results and benefitting June.

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 June 2, 2016 and available for replay until 1:15 p.m. Pacific Time on June 10, 2016.

June Sales

The company will report June sales at 1:15 p.m. Pacific Time on July 7, 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, about 450 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

Chronic Tacos
Chronic Tacos is a California inspired authentic Mexican grill that celebrates the individuality of our customers. We have developed restaurants...
LaRosa Grill
La Rosa started as a single restaurant in 1994 that has grown today, into a food chain for the most discriminating of taste, authenticity & value.
TEFL
If you are looking to start your own online business that is rewarding and helps others, then invest in iTEFL, a quality education and tutoring...
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.
Beverly Hills Rejuvenation Center
Beverly Hills Rejuvenation Center (BHRC) provides the highest quality medical spa services to our clients in a comfortable and supportive...
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.