Home / Knowledge / News / Apparel/Garments / Gap March comparable store sales decline 6%
Gap March comparable store sales decline 6%
11
Apr '14
Gap Inc. reported net sales of $1.51 billion for the five-week period ended April 5, 2014. Gap Inc.’s comparable sales for March 2014 were down 6 percent versus a 1 percent decrease last year.
 
“While March performance has been challenging, we remain confident in the opportunities ahead,” said Glenn Murphy, chairman and chief executive officer, Gap Inc. “We are pleased to reaffirm our full-year EPS guidance range.”
 
March Comparable Sales Results 
Comparable sales by global brand for March 2014 were as follows:
-Gap Global: negative 7 percent versus flat last year
-Banana Republic Global: negative 4 percent versus positive 1 percent last year
-Old Navy Global: negative 7 percent versus negative 2 percent last year
 
As the company noted last month, the Easter holiday is in April this year versus March last year. Given this shift in peak spring selling weeks, the company expected March to be negatively impacted.
 
The company expects gross margins for the first quarter of fiscal year 2014 to be below the prior year by more than the year-over-year decline in the fourth quarter of fiscal year 2013. In addition, given ongoing expense management, the company expects first quarter fiscal year 2014 operating expenses to be flat to last year.
 
The company reaffirmed its previous full-year earnings per share guidance range of $2.90 to $2.95 for fiscal 2014.
 

Gap Inc.


Must ReadView All

Textiles | On 25th May 2016

Vietnam’s fabric & garment exports up 6.7% in Jan-April

Fabric and garment exports from the Southeast Asian nation of Vietnam ...

Textiles | On 25th May 2016

CAIT for joint coalition of trade & industry on GST

Proposing a joint coalition of trade and industry bodies, the...

Apparel/Garments | On 25th May 2016

‘Mauritius is reliable supplier of high-value garments’

The textile and apparel industry in Mauritius has become a reliable...

Interviews View All

Rahuul Jashnani
Jashn

What is the size of the ethnicwear vertical in India? How are Indian...

Victor Chao
Esmetex

Could you describe the global market for sportswear? Which are the...

Frank Gossmann
Rotorcraft AG

What new innovations did Rotorcraft exhibit at the recent textile...

Giorgio Mantovani
Corman S.p.A

<b><i>Giorgio Mantovani, MD of Corman, with a presence in both Milano and...

Kevin Nelson
TissueGen

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

Mark Paterson
Technical Absorbents Ltd

<b><i>Mark Paterson, R&D manager of Technical Absorbents Ltd talks about...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
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