Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Store Tesco UK brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news food grocer group launch luxury morrisons my online online retail people profit property retail property retailer sale sales supermarket waitrose
Gap beats the Street with September sales Monday, 8th October 2012
Photo credit: Old Navy
Gap Inc. saw September same-store sales rise 6 per cent, as the Old Navy, Banana Republic and Gap retailer continues to grow from strength to strength.
Analysts polled by both Thomson Reuters and Wall Street expected an average increase of 5.3 per cent. The results signify a turnaround for Gap, whose same-store-sales for September 2011 fell 4 per cent from the year before.
Revenue at stores open at least a year rose 6 per cent on a global basis, while total net sales for the five weeks ending 29 September were up 8 per cent to USD 1.45 billion. A 10 per cent increase at the group’s Old Navy operations led the positive results, which saw Gap Inc. shares rise 1 per cent on Monday’s trading.