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Q4FY16 net sales at Gap increase 1%
Feb '17
For the fourth quarter of fiscal 2016, net sales at clothing marketer Gap Inc. rose 1 per cent to $4.43 billion, as against $4.39 billion in the fourth quarter of earlier fiscal. The company’s comparable sales in the quarter under review were up 2 per cent compared with a decline of 7 per cent in the prior fiscal’s corresponding quarter.

“Against a challenging retail backdrop, we’re pleased to report growth in our top-line and comparable sales during the critical holiday quarter,” CEO Art Peck said. “We remain focused on actions that will strengthen our brands and recapture market share.”

For full fiscal 2016, Gap now expects reported diluted earnings per share to be in the range of $1.68 to $1.69 and adjusted earnings per share to be in the range of $2.01 to $2.02. (AR)

Fibre2Fashion News Desk – India

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