logo
Share SHARE
FONT-SIZE Plus   Neg

Gap December Comparable Sales Decline - Quick Facts

Gap Inc. (GPS) said net sales for the five-week period ended December 31, 2011 fell to $1.98 billion from $2.01 billion in the five-week period ended January 1, 2011. Comparable sales for December, which include the associated comparable online sales, dropped 4 percent versus a 2 percent decrease in the year-ago month.

According to Glenn Murphy, chairman and CEO of Gap, "We expected December to be highly promotional, and while we competed aggressively across our brands, our performance was below our expectations. That said, we are encouraged by bright spots across our business, and we're clear and focused on what needs to be fixed in order to improve our sales trend in 2012."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Several flights to the Indonesian tourist island Bali were canceled due to volcanic ashes from the Mount Raung. Virgin airlines canceled all the flights to Denpasar Airport, while Jetstar rescheduled three flights to Perth and Melbourne in Australia. Activision Blizzard reported a better-than-expected increase in second-quarter profit, as the video game publisher saw robust growth in digital channels, penetration in China and improved margins. It lifted its guidance for 2015, sending its shares up... Diversified media and entertainment conglomerate Walt Disney Co. said Tuesday after the markets closed that its third quarter profit rose 11% from last year, driven mainly by strong earnings growth at its film and consumer products divisions. The company's quarterly earnings per share came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast.
comments powered by Disqus
RELATED NEWS
Trade GPS now with 
Follow RTT