Home / Knowledge / News / Apparel/Garments / Gap Feb comparable sales plunges 7%
Gap Feb comparable sales plunges 7%
07
Mar '14
Gap Inc. reported net sales for the four-week period ended March 1, 2014 were $929 million compared with net sales of $966 million for the four-week period ended March 2, 2013. Gap Inc.’s comparable sales for February 2014 were down 7 percent versus a 3 percent increase last year.
 
“While February was clearly a difficult month, we remain focused on executing our global priorities,” said Glenn Murphy, chairman and chief executive officer, Gap Inc.
 
February Comparable Sales Results 
Comparable sales by global brand for February 2014 were as follows:
-Gap Global: negative 10 percent versus positive 2 percent last year
-Banana Republic Global: negative 7 percent versus negative 5 percent last year
-Old Navy Global: negative 6 percent versus positive 6 percent last year
 
The company noted that more than 450 stores experienced closures during February due to weather. The company also noted that February typically represents the smallest month of the first quarter. The management team continues to focus on delivering its full year goals, as outlined during last week’s quarterly earnings announcement.
 
In line with its strategic priorities, the company today announced the opening of its first Gap store in Taiwan. The brand expects to end fiscal year 2014 with more than 100 Gap stores across the Greater China region.
 

Gap Inc


Must ReadView All

Textiles | On 30th May 2016

Uttarakhand to launch new textile parks

The Uttarakhand government is setting up three textile parks in the...

Apparel/Garments | On 30th May 2016

Youngone Corp to invest in Ethiopia’s textile sector

Youngone Corporation, a South Korea based textile and footwear...

Courtesy: Lakshmi Machine Works

Textiles | On 30th May 2016

LMW’s net sales up 5.41% in Q4 ended March 31

Lakshmi Machine Works (LMW) posted a rise of 5.41 per cent in net...

Interviews View All

Jurgen Gauger
Spreadshirt

How is the market for personalised prints on garment shaping up? What are...

Dinaz Madhukar
DLF Emporio and DLF Promenade

How do you see the competition from e-stores? What is the marketing...

Claudia Kersten
Global Organic Textile Standard

What benefits can MSMEs have from GOTS certification? What is the...

Eric Scholler
Groz-Beckert

<b><i>The Indian market has huge potential in technical textiles, and by...

Marten Alkhagen
Swerea IVF AB

<b><i>Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles...

Kevin Nelson
TissueGen

<b><i>Kevin Nelson, Chief Scientific Officer, TissueGen discusses the...

Igor Chapurin
Chapurin

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

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
May 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search