Connecting to LinkedIn...

Gap sales increased in November

W1siziisijiwmtuvmdmvmjuvmdevmtuvmzuvodc2l2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Monthly sales at US clothing retailer Gap increased 4 per cent year-on-year across its operations, it was revealed today.

Net sales for the four-week period ending November 27th totalled $1.51 billion (£972 million) compared to $1.42 billion for the same period last year.

The best performing sector for the retail group during the period was Gap North America which turned around a decline of four per cent in store sales in 2009 to post a rise of five per cent this year.

Sabrina Simmons, Chief Financial Officer at Gap, commented: “Overall, we are pleased with our November results and that customers responded well to our brands’ initial holiday offers.”

Year-to-date net sales were $11.81 billion for the forty three weeks ending November 27th which is four per cent up on the comparable period last year.

Sales at Old Navy stores in North America was the only section of the Gap business this month to see less growth last this year compared to last, with November 2009 seeing a six per cent year-on-year rise and 2010 experiencing a five per cent increase.

International sales were down on last year by one per cent but this was an improvement on 2009 when they dropped five per cent compared to the previous year.

Simmons added: “Throughout the fourth quarter, we will continue to focus on our goal of delivering top line growth.”

Published on Thursday 02 December by Editorial Assistant

Articles similar to Gap

Articles similar to Fashion

comments powered by Disqus