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

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Madhu Jain
Madhu Jain

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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