Headlines

Flat Gap in September

Retailer’s sales down for the month, though Banana Republic showed growth

Published

21 years ago

October 8, 2004

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Gap Inc. (San Francisco) has reported a 1 percent decrease in net sales for the five-week period ended Oct. 2, 2004. The specialty apparel retailer’s same-store sales for the month were down 3 percent, compared with a 13 percent increase in September 2003.

Charting same-store sales by division, Gap U.S. was down 1 percent; Gap International was down 10 percent; Banana Republic was up 6 percent; and Old Navy was down 6 percent.

“Similar to August, total company merchandise margins were in line with last year,” said Sabrina Simmons, senior vp, treasury and investor relations. “We were disappointed with September, but are taking a long-term view on the business and are focused on delivering Holiday product at Gap, Banana Republic and Old Navy later this month.”

Year-to-date, net sales have increased 3 percent and same-store sales are up 2 percent.

For more retailers’ financial announcements and sales results, see the Retail Financial Reports channel on this home page.

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