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Gap international sales fall in February


Fashion retailer Gap’s international like-for-like sales were down seven per cent in February, compared to the same month one year before.

The trading figures, which account for all Gap Inc businesses outside of North America as well as its new European online site, come as global net sales for February dropped two per cent to $821 million (£505 million) year-on-year.

Sales for the whole group were also down on a LFL basis, dropping three per cent on the year following four per cent growth between 2009 and 2010.

A statement from Gap today said the month represents “a relatively small part” of the organisation’s overall annual revenue, adding that the management team continues to be focused on delivering full-year goals.

The fashion specialist, which owns Banana Republic and Old Navy, revealed these targets in a full-year results statement last month, when it said it plans to open 190 stores in 2011, including 125 outside North America.

Commenting at the time, Chairman and CEO of Gap Inc Glenn Murphy said: “We remain committed to investing in the future and executing with speed and consistency, allowing us to capitalise on the enormous global growth potential ahead of us.”

Published on Thursday 03 March by Editorial Assistant

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