Home / Knowledge / News / Apparel/Garments / Q4FY15 sales up 3% at clothing marketer Gap
Q4FY15 sales up 3% at clothing marketer Gap
12
Feb '15
For the fourth fiscal quarter ended January 31, 2015, net sales at NYSE listed and apparel marketer, Gap Inc rose 3 per cent year on year to $4.71 billion.

For the fourth quarter of fiscal 2015, on a constant currency basis, net sales increased 5 percent from the prior year quarter.

Gap said, in calculating net sales growth on a constant currency basis, current year foreign exchange rates are applied to both current year and prior year net sales.

“This is done to enhance the visibility of underlying business trends, excluding the impact of foreign currency exchange rate fluctuations,” it added.

Gap’s comparable sales for the reporting quarter were up 2 per cent versus 1 per cent in the corresponding quarter of previous fiscal year.

In comparable global sales, Gap brand posted negative growth of 6 per cent compared to 1 percent in prior fiscal year fourth quarter.

Banana Republic brand inked 1 per cent comparable sales growth as against negative growth of 3 per cent in the same quarter of last fiscal year.

Old Navy brand inked a massive comparable sales growth of 11 per cent from flat growth the brand posted in the fourth fiscal quarter in the previous year.

“We’re pleased to have grown comparable sales 2 per cent for the fourth quarter, driven by a strong, double-digit comp at Old Navy,” said Sabrina Simmons, chief financial officer, Gap Inc.

The company raised its fiscal year 2015 diluted earnings per share guidance range to $2.86 to $2.87, driven by its fourth quarter results, as well as a lower effective tax rate.

For the fourth quarter of fiscal year 2015, Gap Inc expects diluted earnings per share to be in the range of $0.73 to $0.74.

Gap Inc. now expects a full-year effective tax rate of about 37.3 per cent, which is below the company’s previous guidance of about 38 per cent.

Net sales for the four-week period ended January 31, 2015 were down to $888 million compared with net sales of $899 million for the four-week period ended February 1, 2014.

Its comparable sales for January 2015 were down 3 per cent as against 1 per cent in the same month of fiscal 2014. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 24th Apr 2017

ColDesi launches latest direct to garment printer

ColDesi, a pioneer in the direct to garment printer business, has...

Textiles | On 24th Apr 2017

US’ textile manufacturers applaud Buy American order

US' National Council of Textile Organisations has favoured President...

Courtesy: Under Armour

Apparel/Garments | On 24th Apr 2017

Wichita varsity names Under Armour as official outfitter

Beginning from July 1, 2017, marketer of performance footwear,...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Rajiv Sirohi
Shara

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Pranav Mishra
Huemn

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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