Skip to main content

Gap has one bright spot in August


San Francisco -- 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.

This ad will auto-close in 10 seconds