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Sales up 5% at Gap in four-weeks to Aug 2
08
Aug '14
Net sales for four-week period ended August 2, 2014 rose 5 percent to $1.17 billion at apparel retailer, against $1.12 billion for the four-week period ended August 3, 2013.

In the same period, comparable sales were up 2 percent versus a 1 percent increase in prior year.

Gap posted a negative 2 percent in July 2014 against 7 percent last year, Banana Republic clocked 6 percent compared with negative 1 percent last year and Old Navy reported 3 percent versus negative 5 percent last year, in comparable sales by brands.

In the second quarter of the fiscal year, net sales went up by 3 percent to $3.98 billion compared with $3.87 billion in the same period of previous fiscal year.

Glenn Murphy, CEO at Gap Inc said, “We’re pleased to close out the first half of the year with positive comparable sales in July and look forward to the new product and marketing campaigns our brands will launch this fall.”

Fibre2fashion News Desk - India

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