US: Gap comparable sales rise 10% in July, Q2 sales up
- Comparable sales up 10% in July
- Net sales increase 12%
- Q2 sales up 6% to $3.58bn
Clothing retailer Gap Inc today (2 August) saw July comparable sales increase 10%, which were driven by the company's positive performance in North America.
Net sales for the four-week period ended 28 July increased 12% to US$1.06bn.
The San Francisco-based retailer recorded a 13% rise in its North American business, compared to a negative performance last year. Sales for its Banana Republic and Old Navy brands in North America sales increased 8% and 12% respectively.
International sales climbed 4%, compared to a 10% decline the same period last year.
Meanwhile, net sales for the second quarter increased 6% to $3.58bn, while comparable sales climbed 4% compared to a 2% fall the same period last year.
Gap's North American division saw sales increase 7%, while Banana Republic sales were up 7% and Old Navy sales climbed 3%. However, international declined 5% compared to a 4% decrease last year.
Chairman and CEO Glenn Murphy said: "We are pleased with our second quarter sales performance and the continued positive trend we're experiencing in North America."
Year-to-date sales increased 6% to $7.06bn, while year-to-date comparable sales climbed 4%, compared to a 2% fall last year.
The following is a general roundup of US apparel and shoe retailers' December 2012 sales results....
Specialty clothing retailer Gap Inc is to close two distribution centres in Hebron, Kentucky in a move aimed at driving efficiency, but will also put 350 jobs at risk....
US children's wear retailer The Gymboree Corp has poached a second executive from specialty clothing retailer Gap Inc in the space of a week, appointing Evan Price as its new chief financial officer....
US children's wear retailer Gymboree has named Gap North America president Mark Breitbard as its new CEO....
- Expensive US dollar hitting H&M sourcing costs
- Enthusiasm for tech in outdoor apparel on rise
- 2015: Welcome to the new fashion consumer
- Apparel industry gains traction says IAF chief
- Performance apparel set for continued growth
- Kanati pulls production out of Pakistan
- Sears Holdings cuts 115 corporate jobs
- H&M Q4 mixed but plans 400 new stores
- UK clothing sales see strongest rise in two years
- Companies continue to call for US trade commitment
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Li & Fung Limited (494) - Financial and Strategic SWOT Analysis Review
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead