Home / Knowledge / News / Apparel/Garments / Net income dips 27.09% in FY15 at Gap
Net income dips 27.09% in FY15 at Gap
27
Feb '16
Courtesy: Gap Inc
Courtesy: Gap Inc
Gap Inc, a US based retailing giant for apparel and accessories, posted 27.09 per cent drop in its net income to $920 million in the fiscal year 2015, ending on January 30, 2016, as compared to $1,262 million in the corresponding period last fiscal, according to a press statement released by the  retailer.

Diluted EPS at Gap was $2.23 in FY15 as compared to $2.87 in FY14, ending on January 31, 2015. This represents a fall of 22.29 per cent in the retailer's diluted EPS.

Gross profit for the period fell by 9.04 per cent to $5,720 million as compared to $6,289 million in the same period last fiscal.

Net sales were posted to be $15,797 million in fiscal 2015 as compared to $16,435 million in the prior fiscal, a fall of 3.88 per cent.

Commenting on the results, Art Peck, CEO of Gap Inc said, “We made significant progress in 2015 transforming our product operating model, enabling us to be more responsive to trends and market conditions and consistently deliver on-brand product collections.”

“With a year of transition behind us, I am confident that we have the right strategies in place to fuel our long-term growth,” he added. (MCJ)

Fibre2Fashion News Desk - India


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Urmil Arya

Sushila International, a well established textile organisation established ...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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