Home / Knowledge / News / Apparel/Garments / Gap reports 6.79% dip in Q4FY16 sales
Gap reports 6.79% dip in Q4FY16 sales
09
Feb '16
For the three months ended January 30, 2015, net sales at apparel marketer Gap Inc. dipped 6.79 per cent to $4.39 billion compared with $4.71 billion for the fourth quarter last fiscal.

Gap's comparable sales for the fourth quarter of fiscal 2016 too were down 7 per cent versus a positive 2 per cent in the same quarter of fiscal 2016.

Comparable sales for Gap Global brand was a negative 3 per cent as against negative 6 per cent in the fiscal ago period, while for Banana Republic Global, it was negative 14 per cent vis-à-vis positive 1 per cent.

Old Navy Global too reported a negative 8 per cent comparable sales growth in the reporting quarter compared to a positive 11 per cent in the fourth fiscal of 2015.

“On a constant currency basis, Gap net sales decreased 5 per cent year over year for the fourth quarter of fiscal 2016,” the company said in a press release.

“In calculating net sales growth on a constant currency basis, current year foreign exchange rates are applied to both current year and prior year net sales,” the US based apparel marketer explained.

“This is done to enhance the visibility of underlying business trends, excluding the impact of foreign currency exchange rate fluctuations,” it observed.

Net sales for the four week period ended January 30, 2016 were $813 million compared with net sales of $888 million for the four-week period ended January 31, 2015.

Comparable sales for January 2016 were down 8 per cent versus negative 3 per cent in the same month of the previous fiscal.

For the fourth quarter of fiscal 2016, Gap now expects adjusted diluted earnings per share to be in the range of $0.56 to $0.57.

The company narrowed its full-year adjusted diluted earnings per share guidance range for fiscal 2016 to $2.41 to $2.42, excluding the one-time negative impact of about $0.20 per diluted share.

“We are pleased to guide to the high end of our previously announced full-year earnings per share range,” said Sabrina Simmons, chief financial officer of Gap Inc.

“As we kick-off fiscal year 2016, our brands look forward to introducing their new Spring collections to customers,” Simmons too added. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: ABARES

Textiles | On 13th Dec 2017

Australian cotton production to grow 4% in 2017-18: ABARES

Cotton production in Australia is forecast to rise by 4 per cent to...

Global economy now growing by about 3%: UN

Textiles | On 13th Dec 2017

Global economy now growing by about 3%: UN

There is an upturn in the global economy, and it is now growing by...

Clothing prices rise 3% in November in UK market

Apparel/Garments | On 13th Dec 2017

Clothing prices rise 3% in November in UK market

As post-Brexit referendum currency adjustment continues, prices of...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search