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

Quick Facts

Editors Pick
Aerospace and defense major Airbus Group SE Wednesday reported a decline in nine-month profit and new orders, while revenues were stable. The weak results reflected the ongoing ramp-up and transition from current to new aircraft models. Looking ahead, for fiscal 2016, the company continues to expect stable adjusted earnings per share and EBIT. Apple Inc. (AAPL) reported its third straight quarter of iPhone sales and revenue declines after the market closed on Tuesday. The tech giant's fourth-quarter profit trumped Wall Street expectations, while revenues fell short. Although, Apple reported its third straight year-over-year decline in iPhone... Buick, Lexus and Toyota are among the top brands with highest reliability rating in the latest annual brand reliability survey.
comments powered by Disqus
Follow RTT