Gap Inc. Reports December Sales Results
January 07 2016 - 4:15PM
Business Wire
Gap Inc. (NYSE: GPS) today reported that net sales for the
five-week period ended January 2, 2016 decreased 4 percent to $2.01
billion, compared with net sales of $2.10 billion for the five-week
period ended January 3, 2015.
On a constant currency basis, December 2015 net sales decreased
3 percent when 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 we bring the holiday season to a close, we look forward to
delivering new Spring collections across our brands,” said Sabrina
Simmons, chief financial officer of Gap Inc.
December Comparable Sales Results
Gap Inc.’s comparable sales for December 2015 were down 5
percent versus a 1 percent increase last year. Comparable sales by
global brand for December 2015 were as follows:
- Gap Global: negative 2 percent
versus negative 5 percent last year
- Banana Republic Global: negative
9 percent versus flat last year
- Old Navy Global: negative 7
percent versus positive 8 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 January 7, 2016 and
available for replay until 1:15 p.m. Pacific Time on January 15,
2016.
January Sales
The company will report January sales at 1:15 p.m. Pacific Time
on Monday, February 8, 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/20160107006224/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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