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Sales up at Gap Inc., expects strong earnings boost for Q3
SAN FRANCISCO — Gap Inc.appears to be on the upswing, reporting positive same-store sales across all of its divisions for both the third quarter and October.
Net sales for the third quarter increased 8% to $3.86 billion compared with $3.59 billion for the third quarter last year. The company’s third quarter comparable sales were up 65 compared with a 5% decrease in the third quarter last year.
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Bebe stores swings to loss in Q1
Brisbane, Calif. -- Bebe stores reported Friday a net loss of $2.6 million for the quarter ended Sept. 29, compared with net income of $2.4 million for the year-ago period.
Sales slipped 7.3% to $117.1 million from $126.3 million, and same-store sales dropped 8.7%.
During the quarter, the company opened five 2b stores and closed seven Bebe stores, and said it expects to open five Bebe stores and one 2b store in fiscal 2013 as well as close five Bebe stores and one 2b pop-up store.