Headlines

March Sales Down at Gap

All of company’s nameplates saw disappointing month

Published

13 years ago

April 7, 2011

VMSD Staff

Gap Inc. (San Francisco) reports its net sales dropped 8 percent in March 2011, compared with last year. Same-store sales for the month, which include the associated comparable online sales, were down 10 percent compared with an 11 percent increase for the same month in 2010.

“Our overall March performance was impacted by the tragic events in Japan, as well as the Easter shift into late April,” says Glenn Murphy, chairman and ceo. “Our company has operated in Japan for more than 15 years, with over 150 stores today, so the devastating earthquake touched all of us at Gap Inc.

“Looking ahead, we remain intensely focused on April and delivering on our full year strategies,” Murphy added.

Comparable sales (including the associated comparable online sales) were down among all of company brands, including: down 9 percent at Gap North America; down 8 percent at Banana Republic North America; 12 percent decline at Old Navy North America; and a drop of 9 percent in the International division.

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