Home / Knowledge / News / Apparel/Garments / Gap Inc Comp store sales drop 8% in Nov

Gap Inc Comp store sales drop 8% in Nov

Dec '06
Gap Inc reported net sales of $1.40 billion for the four-week period ended November 25, 2006, which represents a 2 percent decrease compared with net sales of $1.43 billion for the same period ended November 26, 2005. The company's comparable store sales for November 2006 decreased 8 percent compared with a 4 percent decrease in November 2005.

Comparable store sales by division for November 2006 were as follows:
* Gap North America: negative 7 percent versus negative 5 percent last year
* Banana Republic North America: negative 1 percent versus negative 5 percent last year
* Old Navy North America: negative 10 percent versus negative 2 percent last year
* Gap International: negative 8 percent versus flat last year

"Overall, November was a challenging month as negative traffic trends persisted," said Sabrina Simmons, senior vice president, corporate finance, Gap Inc. "Promotional and markdown activities at Gap and Old Navy drove total company merchandise margins below last year, and we expect pressure on merchandise margins to continue into December."

Year-to-date net sales of $12.41 billion for the 43 weeks ended November 25, 2006; decreased 2 percent compared with net sales of $12.63 billion for the same period ended November 26, 2005. The company's year-to-date comparable store sales decreased 7 percent compared with a 5 percent decrease in the prior year.

The company reiterated that it expects inventory per squarefoot at the end of the fourth quarter to be up in the low-single digits compared with the prior year.

As of November 25, 2006, Gap Inc operated 3,188 store locations compared with 3,132 store locations last year.

Gap Inc

Must ReadView All

Pic: Pexels/Hugo Heimendinger

Textiles | On 25th Feb 2021

Vietnam's growth outlook linked to response to new

Vietnam’s growth prospects will depend on how well and quickly its...

Pic: Puma

Apparel/Garments | On 25th Feb 2021

Puma reports sales of €5.2 bn in FY20

Puma, a Germany-based manufacturer of athletic and casual footwear,...

Pic: Zalando

E-commerce | On 25th Feb 2021

Zalando expands online store Zircle to Sweden & Denmark

Zalando has expanded Zircle, a webshop dedicated to consumers looking ...

Interviews View All

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Dr. Vijaya Kumar,

Dr. Vijaya Kumar

Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....

Ismail Ajani,

Ismail Ajani

Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...

Madhu Sudhan Bhageria,

Madhu Sudhan Bhageria

Incorporated in August 1990, Filatex India Ltd manufactures manmade...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

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

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir

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

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2021

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

Advanced Search