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Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
Download Now
Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
Download Now
Clothing, fashion & personal care report
09 Mar '07
1 min read
US clothing retailer Gap has reported a big fall in fourth quarter profit, compared to the same period a year ago. Net earnings for the 14 weeks ended February 3, 2007 declined 35% to $219 million.
Like-for-like sales for the 13 weeks ended January 27, 2007 declined 7%, compared with a decline of 6% for the fourth quarter of 2005/06.
Blacks Leisure, the retailer and wholesaler of outdoor and boardwear clothing, has revealed that it will close approximately 45 loss making stores. This follows flat sales in the year to February 2007.
This cost cutting program will mainly affect small and overlapping or acquired stores, particularly stores operating under the Millets fascia. It is expected that this move will boost profits by an estimated GBP2 million per year.
Like-for-like sales for the 13 weeks ended January 27, 2007 declined 7%, compared with a decline of 6% for the fourth quarter of 2005/06.
Blacks Leisure, the retailer and wholesaler of outdoor and boardwear clothing, has revealed that it will close approximately 45 loss making stores. This follows flat sales in the year to February 2007.
This cost cutting program will mainly affect small and overlapping or acquired stores, particularly stores operating under the Millets fascia. It is expected that this move will boost profits by an estimated GBP2 million per year.
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