Home / Knowledge / News / Apparel/Garments / Gap Inc Q3 FY'14 revenues up 3%
Gap Inc Q3 FY'14 revenues up 3%
09
Nov '13
Gap Inc. reported that third quarter of fiscal year 2013, Gap Inc.’s net sales increased 3 percent versus last year, and comparable sales increased 1 percent versus a 6 percent increase last year

In addition, net sales for the third quarter, which ended November 2, 2013, were $3.98 billion compared with $3.86 billion for the third quarter last year.

"All three of our global brands delivered positive comps for October," said Glenn Murphy, chairman and chief executive officer of Gap Inc. "Additionally, we are pleased with our guidance of earnings per share growth over last year."

Third Quarter Comparable Sales Results

Comparable sales by global brand for the third quarter of fiscal year 2013 were as follows:

- Gap Global: positive 1 percent versus positive 4 percent last year

- Banana Republic Global: negative 1 percent versus positive 5 percent last year

- Old Navy Global: flat versus positive 9 percent last year

Third Quarter Guidance

For the third quarter of fiscal year 2013, the company expects diluted earnings per share to be in the range of $0.70 to $0.71, compared to diluted earnings per share for the third quarter of fiscal year 2012 of $0.63.

The company reaffirms its prior inventory guidance, with inventory dollars per store at the end of the third quarter of fiscal year 2013 expected to be up in the mid-single digits. The company also notes that third quarter merchandise margins are expected to be below last year.

Additional insight into Gap Inc.’s sales performance is available by calling 1-800-GAP-NEWS (1-800-427-6397). International callers may call 706-902-4949. The recording will be available at approximately 1:00 p.m. Pacific Time on November 7, 2013 and available for replay until 1:00 p.m. Pacific Time on November 15, 2013.

About Gap Inc.

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

Fiscal year 2012 net sales were $15.7 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,100 company-operated stores, over 300 franchise stores, and e-commerce sites.

Gap Inc

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Sonia Agarwal
Whitenife

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

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Wendell Rodricks
Wendell Rodricks

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

Madhu Jain
Madhu Jain

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search