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Q3FY17 sales drop 1.55% at apparel marketer Gap
Nov '16
Courtesy: GAP
Courtesy: GAP
For the three months ended October 31, 2015, net sales at apparel marketer Gap Inc. fell to $3.80 billion, down 1.55 per cent as against $3.86 billion in the prior fiscal's third quarter. Comparable sales for the third quarter of fiscal 2017 too were down 3 per cent, compared to a 2 percent decline in the corresponding period of earlier fiscal.

According to Gap Inc, overall comparable sales were impacted approximately 2 percentage points, due to a negative impact from the Fishkill distribution centre fire.

Comparable sales in the reporting quarter for the Gap Global brand fell 8 percent vis-à-vis a decrease of 4 per cent in the fiscal ago quarter, with the fire accounting for a higher negative impact of approximately 4 percentage points.

For the Banana Republic Global brand, comparable sales too dropped 8 percent versus 12 per cent in the third quarter of fiscal 2016, which also includes an estimated negative impact of approximately 2 percentage points.

However, comparable sales for the Old Navy Global brand rose 3 per cent as against a increase of 4 per cent in the previous fiscal's same quarter, with the fire impacting approximately 1 percentage point. (AR)

Fibre2Fashion News Desk – India

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