Headlines

Gap Slides in February

Planning new product, marketing campaigns

Published

18 years ago

March 6, 2006

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Gap Inc. (San Francisco) reported a 6 percent decrease in net sales for the four-week period ended Feb. 25, 2006. Same-store sales decreased 11 percent.

“In February, traffic worsened versus fourth quarter trends, which caused lower unit sales velocity,” said senior vp, treasury and investor relations, Sabrina Simmons. “This led to significantly lower merchandise margins. Looking ahead, we are focused on driving traffic with improved product and new marketing campaigns that begin this week.”

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