Gap Inc's December sales fell 4%
American apparel company Gap Inc reported that net sales amounted to $2.01 billion in December, a 4% fall from $2.10 billion recorded in the prior year’s period. On a constant currency basis, the five-week period ended January 2, 2016 saw net sales decreased 3% when compared with last year.
“As we bring the holiday season to a close, we look forward to delivering new Spring collections across our brands,” said Sabrina Simmons, chief financial officer of Gap Inc.
Gap’s namesake brand recorded a fall of 2% in comparable sales for December 2015, while Banana Republic Global decreased 9% compared to 2014. Meanwhile, Old Navy Global fell 7% versus positive 8% last year.
The group’s comparable sales for December were down 5%.
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