USA: Gap Sales Climb, New US Chief Named
Troubled apparel giant Gap Inc on Thursday announced an eight per cent slide in same-store sales for last month but said total July sales climbed one per cent to $956 million and raised its quarterly earnings outlook. The California-based company, which sees its second-quarter earnings in the range of 4-5 cents per share, said total second quarter sales rose one per cent to$3.3 billion from $3.2bn in 2001, but same-store sales for the period fell seven per cent.
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