Gap Inc. Reports November Sales Results
04 December 2015 - 8:15AM
Business Wire
Gap Inc. (NYSE: GPS) today reported that November 2015 net sales
decreased 9 percent compared with a 6 percent increase last year.
On a constant currency basis, November 2015 net sales decreased 8
percent compared with last year.1 Net sales for the four-week
period ended November 28, 2015 were $1.57 billion compared with net
sales of $1.72 billion for the four-week period ended November 29,
2014.
“With much of the holiday season still ahead, our teams remain
focused on strong execution and delivering compelling experiences
for customers across our brands,” said Sabrina Simmons, chief
financial officer, Gap Inc.
November Comparable Sales Results
Gap Inc.’s comparable sales for November 2015 were down 8
percent versus a 6 percent increase last year. Comparable sales by
global brand for November 2015 were as follows:
- Gap Global: negative 4 percent
versus negative 4 percent last year
- Banana Republic Global: negative
19 percent versus positive 2 percent last year
- Old Navy Global: negative 9
percent versus positive 18 percent last year
Additional insight into Gap Inc.’s sales performance is
available by calling 1-800-GAP-NEWS (1-800-427-6397). International
callers may call 706-902-4949. The recording will be available at
approximately 1:15 p.m. Pacific Time on December 3, 2015 and
available for replay until 1:15 p.m. Pacific Time on December 11,
2015.
1 In calculating the net sales change on a constant currency
basis, current year foreign exchange rates are applied to both
current year and prior year net sales. This is done to enhance the
visibility of underlying sales trends, excluding the impact of
foreign currency exchange rate fluctuations.
December Sales
The company will report December sales on January 7, 2016.
About Gap Inc.
Gap Inc. is a leading global retailer offering clothing,
accessories, and personal care products for men, women, and
children under the Gap, Banana Republic, Old Navy, Athleta, and
Intermix brands. Fiscal year 2014 net sales were $16.4 billion. Gap
Inc. products are available for purchase in more than 90 countries
worldwide through about 3,300 company-operated stores, over 400
franchise stores, and e-commerce sites. For more information,
please visit www.gapinc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151203006010/en/
Gap Inc.Investor Relations Contact:Jack Calandra,
415-427-1726Investor_relations@gap.comorMedia Relations
Contact:Jennifer Poppers, 415-427-1729Press@gap.com
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