Headlines

Gap Inc. Reports Flat July

Comparable sales down across all brands

Published

13 years ago

August 4, 2011

VMSD Staff

San Francisco-based Gap Inc. says its July 2011 net sales were flat compared with last year. Net sales for the four-week period ended July 30, 2011, were $949 million. Comparable sales for the period dropped 5 percent compared with a 2 percent increase in 2010.

“While July proved to be challenging, we’re pleased that we grew net sales for the quarter and that we’re able to guide earnings per share above analyst expectations,” says Glenn Murphy, chairman and ceo of Gap Inc.

The comparable sales for the July period were:

•Gap North America –6 percent drop
•Banana Republic North America –4 percent drop
•Old Navy North America – 3 percent decline
•International – 10 percent drop

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