US: Gap posts flat comparable store sales in December
Clothing giant Gap Inc has reported flat comparable store sales for the month of December, dampened by lower demand at Old Navy.
The San Francisco-based retailer said comparable store sales increased 1% at Gap, were flat at Banana Republic, but slipped 2% at Old Navy.
Net sales reached US$2.05bn during the five weeks to 4 January, down 1.4% from $2.08bn in the same period of the prior year.
During the November and December holiday shopping period, Gap saw comparable store sales edge up 1%. Net sales grew 2% for the nine weeks to 29 December to $3.68bn from $3.59bn in the prior year period.
"We delivered solid overall performance across our global brands this holiday season, on top of last year's strong results," said chairman and CEO Glenn Murphy.
The Gap, Inc. - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offerings ...
The Gap is a US apparel specialist retailer which offers casual, mid-tier clothing. It continues to pursue a multi-tier price strategy, operating retail concepts (Banana Republic, Gap, Old Navy, Piper...
Gap Inc’s sales performance in 2012 highlights a successful turnaround is well underway. Innovative marketing combined with an omni-channel focus places the company well to regain lost market share. G...
Apparel retailer Victorinox Fashion has appointed Jason Gallen as president of its global fashion division....
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....
- MYANMAR SNAPSHOT: Textile and apparel industry
- Alliance members buy more products from Bangladesh
- Clothing seen as central focus for new Tesco CEO
- ANALYSIS: New pricing strategy pays off for Nike
- Indian apparel exporters discuss policy changes
- Crystal Group improves worker communication
- TIMELINE: Charney ousting from American Apparel
- Columbia Sportswear fined for mislabelled clothing
- “Made in USA” company rapped for deceptive claims
- VF Corp books "solid" Q2 performance
- Global market review of denim and jeanswear – forecasts to 2020
- Ethiopia – the emerging textile and clothing industry
- Management briefing: Sourcing shifts: Changes and challenges
- Plunkett's Apparel & Textiles Industry Almanac 2014: Apparel & Textiles Industry Market Research, Statistics, Trends & Leading Companies
- American Eagle Outfitters, Inc. : Reacting to a need for change