And the one bright spot at Gap Inc. is ...

Gap Inc.’s sales slump continued in August across all its brands with one notable exception.

The retailer said that it wasn’t helped by a late Labor Day, with the holiday falling in September this year, as opposed to August last year.



Gap's global same-store sales fell 8%, compared to a 6% decrease for the year prior, while Banana Republic had a 11% drop compared to 6% last year. Old Navy continued its winning streak, with a same-store sales rose 6% on top of a 2% increase for the prior year.



“We’re pleased that Old Navy delivered another strong month of positive comps driven by a healthy back-to-school business, as we remain focused on improving product performance across our portfolio,” said Sabrina Simmons, Gap CFO.



Gap’s overall net sales for the four-week period ended August 29, 2015 decreased 3% to $1.20 billion, compared with net sales of $1.23 billion for the four-week period ended August 30, 2014.