>>
Home / Knowledge / News / Apparel/Garments / Gap Inc net sales down 2% to $4 bn in Q2 2019

Gap Inc net sales down 2% to $4 bn in Q2 2019

25
Aug '19
Pic: Gap Inc
Pic: Gap Inc
Gap Inc, a global retailer offering clothing, accessories, and personal care products, recorded net sales of $4 billion in Q2 2019, a decrease of 2 per cent as compared to last year. The comparable sales were down 4 per cent in Q2 compared to an increase of 2 per cent last year. Gross profit was $1.56 billion, a decrease of 4 per cent compared to last year.

Sales for the brand Old Navy Global were down 5 per cent as compared to 5 per cent increase last year. Sales of Gap Global and Banana Republic Global were down 7 per cent and 3 per cent respectively in the second quarter ending August 3, 2019, said Gap Inc in a media statement.

"We are operating in a challenging environment, but I remain confident in the strength of our brands and our plans for the future as we work to launch two independent, public companies," said Art Peck, president and chief executive officer, Gap Inc. "Heading into the second half of the year, we remain highly focused on inventory and expense discipline to improve results, as well as delivering exceptional product supported by powerful marketing to drive customer engagement."

The company updated its reported diluted earnings per share guidance for fiscal year 2019 to be in the range of $1.88 to $2.08. The company affirmed its fiscal year 2019 adjusted diluted earnings per share guidance range of $2.05 to $2.15. The company continues to expect comparable sales for fiscal year 2019 to be down low single digits.

Gap Inc offers products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, Janie and Jack, and Hill City brands. Fiscal year 2018 net sales were $16.6 billion. The company ended the second quarter of fiscal year 2019 with 3,877 store locations in 44 countries, of which 3,356 were company-operated. (PC)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Nikolay Antonov | Dreamstime.com

Textiles | On 24th Jan 2022

People's Bank of China cuts benchmark lending rates

China’s central bank has cut the benchmark lending rate of loan prime ...

Pic: Shutterstock

E-commerce | On 24th Jan 2022

S Korea aims to be world's 5th biggest metaverse market by 2026

South Korea will cultivate 220 companies and 40,000 professionals...

Pic: Juan Moyano | Dreamstime.com

Textiles | On 24th Jan 2022

Coal export ban on 139 Indonesian firms lifted

Indonesia has allowed 139 coal mining companies to resume export...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Consistency is the first rule of social media

Textile Industry, Head honchos

Textile Industry
Head honchos

Liquidity is a primary issue in Indian context

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Akram Tariq Khan,

Akram Tariq Khan

E-commerce brand YourLibaas meaning "garment or attire" in Udru, was...

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

J Vargas,

J Vargas

With a vision to be the world's top tier textile manufacturer, Badjatex...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Serkan Gogus, Mogul Nonwovens

Serkan Gogus
Mogul Nonwovens

Mogul is a global player ranked among the top 40 nonwoven producers in the ...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Asmita Marwa, Asmita Marwa Design

Asmita Marwa
Asmita Marwa Design

Indian fashion designer Asmita Marwa has been rated by Vogue as one of the ...

Dahlia Razzrook, Label - Dahlia Razzook

Dahlia Razzrook
Label - Dahlia Razzook

London based designer, <b>Dahlia Razook</b> known for her luxury...

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

Leave your Comments

ESTEEMED CLIENTS

Eastman Chemical Company
Huntsman (Singapore) Pte Ltd
Green Fibre
Bluestem Global Sourcing Limited
Puma
Guess Europe Sagl,
Lifestyle
Lenzing Aktiengesellschaft
Desigual - ABASIC, S.A.
Truetzschler India Private Limited
Amazon China
Recron Polyester from Reliance Industries Limited
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
John Varvatos
Aramark Uniform ;& Career Apparel, LLC
The Top Form Brassiere Manufacturing Company Limited
Tommy Hilfiger
Groz-Beckert East Asia LLP
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Alison Hayes Romania
Reiter India Private Limited
Restoque S.A.
Lululemon Athletica Inc
Walmart
Varner AS Retail
Landmark Group
Sportswear Company Spa
Chico’ FAS
BIANCA
Vianney Textil Hogar S.A. De C.V.
Hela Clothing Pvt Ltd
The LYCRA Company Singapore  Pte. Ltd
Chori Company Limited
SHAHI Exports Pvt Ltd
Permoda(Koaj/Armi/Pronto/Bkul)
J ;& P Coats
Splash
Under Armour Global Sourcing Ltd
THE BOMBAY DYEING ;& MFG.CO. LTD
Benetton Group
Sportmaster Ltd.
Sainsbury's Argos Asia Limited
Helly Hansen Far East Ltd
Asos
Cat Tuong Real Estate Group Joint Stock Company
OVS Hong Kong Sourcing Ltd.
LC Waikiki
Sateri (Jiujiang) Fiber Co.,Ltd
Maceton Limited
Grasim Industries Limited
Abit
Seasalt Limited
Tchibo GmbH
Phong Phu international JSC (PPJ)
Vardhman Textile Ltd
Aquarelle Clothing Limited
T.T. Limited
Babyshop
NITI Aayog
TESCO INTERNATIONAL SOURCING LIMITED
IDH – The Sustainable Trade Initiative
H;&M Hennes ;& Mauritz (Far East) Ltd
Lacoste (Wanchai)
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Alix Partners
IKEA of Sweden AB
Gokaldas Exports Limited
Arvind Limited
Rosset ;& Cia Limited
Lisa S.P.A.
Etam Group Strategy Hong Kong Limited
Gloria Jeans
Gap International Sourcing Limited
Calvin Klein
G-Star Raw C.V.
Gatsby Africa
KAS Direct Sourcing
BIMBA ;& LOLA SL
Midas Clothing Limited
Boardriders Asia Sourcing Limited
Target Corporation (MN)
Tory Burch Hong Kong Ltd
Brandix Lanka Limited
Rayonese Textile Inc., Division de Culp Inc.
Decathlon
PVH Corporation
C;&A Sourcing International Ltd
Esprit Europe Services GmbH
SYNERGIES HONG KONG LIMITED
International Textile Manufacturers Federation

January 2022

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


Advanced Search