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Gap Inc July general & same store sales drop 4%
09 Aug '05
3 min read
Gap North America: negative 4 percent versus positive 1 percent last year.
Banana Republic North America: negative 3 percent versus positive 4 percent last year.
Old Navy North America: negative 4 percent versus flat last year.
International: positive 1 percent versus negative 10 percent last year.
The company announced that it expects earnings per share for the second quarter to be $0.28 to $0.29. A one-time reversal of a sublease loss reserve and the absence of premiums paid on early retirement of debt together represent about $123 million of pre-tax benefit versus last year, or about $0.08 per share for the second quarter.
Gap Inc. plans to provide an in-depth review of it second quarter results and review its full year 2005 financial guidance during the company's 2005-second quarter earnings conference call, which is scheduled for Thursday, August 18, 2005.
The company reiterated that it expects year-over-year inventory per square foot at the end of the second quarter to be down on percentage point basis in the low single digits compared to last year.
As of July 30, 2005, Gap Inc. operated 3,029 store locations compared with 2,999 store locations last year.
For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.'s monthly sales recording. International callers may call 706-634-4421.
Gap Inc will release its second quarter earnings via press release on August 18, 2005 at 1:30 p.m. Pacific Time. In addition, the company will host a summary of Gap Inc.'s second quarter results in a live conference call and webcast at approximately 2:00 p.m. Pacific Time. Calling 800-374-0168 can access the conference call and international callers may dial 706-634-0994.
Banana Republic North America: negative 3 percent versus positive 4 percent last year.
Old Navy North America: negative 4 percent versus flat last year.
International: positive 1 percent versus negative 10 percent last year.
The company announced that it expects earnings per share for the second quarter to be $0.28 to $0.29. A one-time reversal of a sublease loss reserve and the absence of premiums paid on early retirement of debt together represent about $123 million of pre-tax benefit versus last year, or about $0.08 per share for the second quarter.
Gap Inc. plans to provide an in-depth review of it second quarter results and review its full year 2005 financial guidance during the company's 2005-second quarter earnings conference call, which is scheduled for Thursday, August 18, 2005.
The company reiterated that it expects year-over-year inventory per square foot at the end of the second quarter to be down on percentage point basis in the low single digits compared to last year.
As of July 30, 2005, Gap Inc. operated 3,029 store locations compared with 2,999 store locations last year.
For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.'s monthly sales recording. International callers may call 706-634-4421.
Gap Inc will release its second quarter earnings via press release on August 18, 2005 at 1:30 p.m. Pacific Time. In addition, the company will host a summary of Gap Inc.'s second quarter results in a live conference call and webcast at approximately 2:00 p.m. Pacific Time. Calling 800-374-0168 can access the conference call and international callers may dial 706-634-0994.
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