Headlines

Gap Sales Slump Continues

Net sales down 4 percent for October

Published

13 years ago

November 4, 2011

VMSD Staff

Gap Inc. (San Francisco) reports net sales were $1.14 billion in October 2011, a drop of 4 percent compared with last year. Monthly comparable sales were down 6 percent compared with a 4 percent increase for October 2010.

In addition, the company reported that net sales for the third quarter, which ended October 29, 2011, declined 2 percent to $3.59 billion compared and third quarter comparable sales were down 5 percent.

“While October was mixed across our brands, our teams are determined to compete aggressively this holiday season by delivering great product in an inspiring shopping environment – in stores and online,” says Glenn Murphy, chairman and ceo, Gap Inc.Among its brands, comparable sales for the October were:

•Gap North America: down 5 percent

•Banana Republic North America: up 1 percent versus flat last year

•Old Navy North America: 9 percent drop

•International: down 7 percent

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design