Home / Knowledge / News / Apparel/Garments / Spring products perform well at Gap in Q1 FY'12

Spring products perform well at Gap in Q1 FY'12

04
May '12
Gap Inc. reported that net sales for the first quarter of fiscal 2012 increased 6 percent compared with last year, and April 2012 net sales were flat compared with last year.

Net sales for the first quarter, which ended April 28, 2012, increased 6 percent to $3.49 billion compared with $3.30 billion for the first quarter last year. The company's first quarter comparable sales, which include the associated comparable online sales, were up 4 percent compared with a 3 percent decrease in the first quarter last year.

“We delivered a solid first quarter as spring product continued to do well across all brands,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.

In addition, net sales were $1.15 billion for each of the four-week periods ended April 28, 2012 and April 30, 2011. The company's comparable sales for April 2012, which include the associated comparable online sales, were down 2 percent compared with an 8 percent increase in April 2011.

First Quarter Guidance
The company expects diluted earnings per share for the first quarter of fiscal year 2012 to be in the range of $0.44 to $0.46. As a result of sales performance, the company expects inventory dollars per store at the end of the first quarter to be below its previous guidance of about flat on a year-over-year basis.

First Quarter Comparable Sales Results
Comparable sales for the first quarter of fiscal year 2012, including the associated comparable online sales, were as follows:

• Gap North America: positive 5 percent versus negative 3 percent last year

• Banana Republic North America: positive 5 percent versus negative 1 percent last year

• Old Navy North America: positive 4 percent versus negative 2 percent last year

• International: negative 4 percent versus negative 6 percent last year

Gap Inc. is a leading global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta brands.

Gap Inc


Must ReadView All

Pic: Shutterstock

E-commerce | On 6th May 2021

UK digital commerce spending to reach $11.6 trillion in 2021: Report

UK digital retail spending will rise to over $11.6 trillion by the...

Pic: Compo-SiL

Textiles | On 6th May 2021

Taiwanese company GS to produce plastic-free vegan leather

Taiwanese silicone product manufacturer General Silicones (GS) has...

Pic: Shutterstock

Textiles | On 5th May 2021

EURATEX welcomes revamped EU Industry Strategy

EURATEX, the voice of the European textile and apparel industry, has...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

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


April 2021

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


Advanced Search