Gap Inc. Reports June Sales Results
July 09 2015 - 4:00PM
Business Wire
Gap Inc. (NYSE:GPS) today reported that net sales for the
five-week period ended July 4, 2015 were $1.54 billion or flat
compared with last year.
On a constant currency basis, June 2015 net sales increased 2
percent compared with last year. 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.
“As previously announced, we’re taking significant actions to
help improve Gap brand’s performance,” said Sabrina Simmons, chief
financial officer, Gap Inc. “We’re pleased customers continue to
respond favorably to Old Navy’s on-trend collections with the brand
delivering yet another month of positive comps.”
June Comparable Sales Results
Gap Inc.’s comparable sales for June 2015 were down 1 percent
versus a 2 percent decrease last year. Comparable sales by global
brand for June 2015 were as follows:
- Gap Global: negative 5 percent
versus negative 7 percent last year
- Banana Republic Global: positive
1 percent versus negative 7 percent last year
- Old Navy Global: positive 1
percent versus positive 7 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 1:00 p.m. Pacific Time on July 9, 2015 and available
for replay until 1:00 p.m. Pacific Time on July 17, 2015.
July Sales
The company will report July sales on Monday, August 10,
2015.
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/20150709006199/en/
Gap Inc.Investor Relations Contact:Jack Calandra,
415-427-1726Investor_relations@gap.comMedia Relations
Contact:Kari Shellhorn, 415-427-1805Press@gap.com
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