US: Gap same-store sales fall 4% in September
Speciality clothing retailer Gap Inc has booked a 4% fall in September same-store sales, with declines seen across all divisions.
The San Francisco based retailer, which operates 3,100 stores, said net sales remained flat at $1.35bn in the five weeks to 1 October compared with last year.
"While there were some bright spots across our brands and business units, we're clear and focused on the steps necessary to improve our business performance going forward," said Glenn Murphy, chairman and CEO.
Comparable sales were down 4% at Gap North America, fell 1% at both Banana Republic North America and Old Navy North America, and tumbled 13% in its International unit.
For the year to date, net sales are flat with last year at $9.12bn, but have fallen 3% in a comparable basis.
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