The fall in the net sales of Q3 at Gap Inc was primarily because of the weak Japanese yen and Canadian dollar which affected the reported sales figures by $98 million when translated into US dollars.
However, on a constant currency basis, the net sales figure of Q3 FY15 was flat as compared to the corresponding quarter last year.
The company's comparable sales for the quarter decreased by 2 per cent, with Gap Global recording a fall of 4 per cent, Banana Republic Global recording a fall of 12 per cent and Old Navy Global recording a rise of 4 per cent.
“With fall behind us, the teams across our portfolio are focused on strong execution for the holiday season,” said Sabrina Simmons, CFO at Gap Inc. (MCJ)
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