US: Gap posts 3% November comparable sales growth
Specialty clothing retailer Gap Inc has today (29 November) seen its November comparable store sales increase 3% on the back of gains at its international and North American brands.
Net sales were also up 3% to $1.52bn during the four-week period to 24 November, compared to $1.47bn the year before.
The San-Francisco-based retailer said comparable sales were up at all of its North American brands, with Gap reporting 5% sales growth, Banana Republic booking a 3% rise, while Old Navy posted a 1% gain. International comparable sales increased 3% compared to a 9% decline the same month last year.
"Customers continue to respond positively to our product this year, enabling us to deliver consistent comp sales growth in North America," said chairman and CEO Glenn Murphy. "As we head into the thick of the holiday selling season, we're confident and ready to compete across all our brands and channels."
Year-to-date net sales rose 6% to $11.73bn in November, compared to $11.73bn the prior year. Comparable sales climbed 4%, up against a 3% increase last year.
The Gap Inc offers casual, mid-tier clothing to Mexican consumers through department stores and recently in 2012 by opening its first flagship Gap store in the country....
Specialty clothing retailer Gap Inc has seen its financial year get off to a "strong start" with profit jumping 43% thanks to sales gains at its namesake and Old Navy chains....
Crailar Technologies, developer of the Crailar Flax fibre, is the latest company to join the Sustainable Apparel Coalition (SAC), which is working to reduce the environmental and social impacts of glo...
A group of North American retailers has gone its own way on strengthening safety efforts at Bangladesh garment factories, setting up a new initiative said to offer a long-term solution that also offer...
More retailers and brands have joined the Accord on Fire and Building Safety in Bangladesh ahead of the midnight deadline (15 May). ...
Marks & Spencer has become the latest retailer to join the new Bangladesh Fire and Building Safety Accord, which is intended to improve safety in the country's garment factories....
- Why should brands care about China cotton?
- New Gap CEO set to tackle “aesthetic issue”
- Falling euro adds to Bangladesh production woes
- Low labour cost countries linked to highest risks
- China cotton: implications and opportunities
- M&S Asia head quits as China stores to close
- Abercrombie & Fitch reports “dismal” FY
- Gap names new design head amid mixed Q4
- Pay rise mulled for Sri Lanka garment workers
- US labour concerns at Honduras apparel makers
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Outdoor performance apparel: peaks, valleys, and green fields
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Global market review of swimwear - forecasts to 2019