Home / Knowledge / News / Apparel/Garments / Spring products perform well at Gap in Q1 FY'12
Spring products perform well at Gap in Q1 FY'12
May '12
Gap Inc. reported that net sales for the first quarter of fiscal 2012 increased 6 percent compared with last year, and April 2012 net sales were flat compared with last year.

Net sales for the first quarter, which ended April 28, 2012, increased 6 percent to $3.49 billion compared with $3.30 billion for the first quarter last year. The company's first quarter comparable sales, which include the associated comparable online sales, were up 4 percent compared with a 3 percent decrease in the first quarter last year.

“We delivered a solid first quarter as spring product continued to do well across all brands,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.

In addition, net sales were $1.15 billion for each of the four-week periods ended April 28, 2012 and April 30, 2011. The company's comparable sales for April 2012, which include the associated comparable online sales, were down 2 percent compared with an 8 percent increase in April 2011.

First Quarter Guidance
The company expects diluted earnings per share for the first quarter of fiscal year 2012 to be in the range of $0.44 to $0.46. As a result of sales performance, the company expects inventory dollars per store at the end of the first quarter to be below its previous guidance of about flat on a year-over-year basis.

First Quarter Comparable Sales Results
Comparable sales for the first quarter of fiscal year 2012, including the associated comparable online sales, were as follows:

• Gap North America: positive 5 percent versus negative 3 percent last year

• Banana Republic North America: positive 5 percent versus negative 1 percent last year

• Old Navy North America: positive 4 percent versus negative 2 percent last year

• International: negative 4 percent versus negative 6 percent last year

Gap Inc. is a leading global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta brands.

Gap Inc

Must ReadView All

Textiles | On 30th May 2017

CAI estimates 2016-17 cotton crop at 340.5 lakh bales

Cotton Association of India (CAI) has retained its earlier estimate...

Courtesy: World Bank/Claude Renault

Textiles | On 30th May 2017

India’s economic fundamentals remain strong: World Bank

India remains the fastest growing economy in the world – economic...

Courtesy: Dollar Industries

Apparel/Garments | On 30th May 2017

Dollar Industries registers Rs 906 cr turnover in FY17

Hosiery major Dollar Industries Limited registered a turnover of Rs...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Deepak Jain

We are using Facebook and Instagram to promote ourselves

Johan Berlin
InvestKonsult Sweden AB

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

Mark Paterson
Technical Absorbents Ltd

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


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