Gap international sales struggle
Fashion retailer books December sales increase
Gap saw total sales increase in December, but a continued struggle for sales in its international stores dragged same-store sales figures into negative territory.
The US-based clothing retailer saw total sales of $2.6bn in the the five weeks to January 1, a 2 per cent year-on-year increase. Comparable store sales for December decreased by 1 per cent.
By division, Gap US saw positive comparable store growth of 2 per cent while Gap International saw a decline 7 of per cent. The Banana Republic chains saw a fall of 2 per cent while comarable store sales at Old Navy dipped by 1 per cent.
Sabrina Simmons, senior vice president, treasury and investor relations, said: “The month of December ended strong, despite somewhat disappointing overall December sales.
“Our promotional strategies allowed us to move through inventory in a disciplined manner and we are well prepared for the first flow of spring merchandise.”
For the 48 weeks to January 1, year-to-date sales are $15.4bn, up 3 per cent, with year-to-date comparable store sales up 1 per cent. As of January 1 Gap operates 3,049 store locations compared with 3,059 store locations last year.
