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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