Home / Knowledge / News / Fashion / Gap Inc reports June sales dip 2%
Gap Inc reports June sales dip 2%
12
Jul '08
Gap Inc reported net sales of $1.41 billion for the five-week period ended July 5, 2008, which is a decrease of 2 percent as compared with net sales of $1.44 billion for the same period ended July 7, 2007. The company's comparable store sales for June 2008 decreased 7 percent compared with a 5 percent decrease for June 2007.

Comparable store sales by division for June 2008 were as follows:
• Gap North America: negative 5 percent versus negative 9 percent last year
• Banana Republic North America: negative 5 percent versus positive 6 percent last year
• Old Navy North America: negative 10 percent versus negative 7 percent last year
• International: negative 7 percent versus flat last year

“Our June sales events helped us successfully clear through summer merchandise at each brand,” said Sabrina Simmons, chief financial officer of Gap Inc. “As a result, we achieved total company merchandise margins significantly above last year, and our stores are well-positioned for early fall product."

Year-to-date net sales were $5.88 billion for the 22 weeks ended July 5, 2008, a decrease of 5 percent compared with net sales of $6.18 billion for the 22 weeks ended July 7, 2007. The company's year-to-date comparable store sales decreased 11 percent compared with a 4 percent decrease in the prior year.

Gap Inc


Must ReadView All

Sri Lanka reduces VAT on imported fabric to 5%

Textiles | On 24th Sep 2018

Sri Lanka reduces VAT on imported fabric to 5%

Considering the requests made by the stakeholders in the fabric...

E-com firms in India to deduct 1% TCS under GST from Oct 1

Apparel/Garments | On 24th Sep 2018

E-com firms in India to deduct 1% TCS under GST from Oct 1

E-commerce companies in India will have to deduct 1 per cent tax...

Courtesy: Andritz

Textiles | On 24th Sep 2018

'Strength of economy, demographics drive nonwovens demand'

The strength of the economy and demographic trends are the main...

Interviews View All

Claudia Kersten, Global Organic Textile Standard

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Mandeep Nagi, Shades of India

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search