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

GMAC urges Cambodia to push fabric-forward rule in RCEP

Apparel/Garments | On 17th Oct 2017

GMAC urges Cambodia to push fabric-forward rule in RCEP

Representatives from the Garment Manufacturers Association of...

Alibaba to invest $15 billion in DAMO Academy for research

Textiles | On 17th Oct 2017

Alibaba to invest $15 billion in DAMO Academy for research

Alibaba will invest $15 billion over the next several years in its...

Pressure on  Indian textiles exporters to ease by Q3: ICRA

Textiles | On 17th Oct 2017

Pressure on Indian textiles exporters to ease by Q3: ICRA

Pressures on the profit and debt levels of textiles exporters is...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Silvia Venturini Fendi
Fendi s.r.l

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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