GENERAL MERCHANDISE NEWS
Gap still finding sales tough
4 March, 2005 | by Retail Bulletin
Sales flat across February
Gap has reported flat total sales for February, with same-store sales decline across all its divisions.
Group sales of $924m for the four weeks to February 26 were level with last year, with group comparable store sales down by 3 per cent.
By division, Gap North America saw a 2 per cent comparable store decline, while same store sales fell at Banana Republic by 6 per cent and at Old Navy by 1 per cent. Gap’s international business saw an 8 per cent same store sales decline.
Sabrina Simmons, senior vice president, treasury and investor relations, said: “We were pleased with improved year over year total company merchandise margins, as we continued to sell spring merchandise in February.
