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

Quick Facts

Editors Pick
Senate Republicans released a draft of their version of legislation to repeal and replace Obamacare on Thursday, with a vote on the 142-page bill expected as soon as next week. The bill, called the Better Care Reconciliation Act, repeals Obamacare's individual and employer mandates as well as the... A local cable and broadband provider in Texas has filed a lawsuit against Comcast Corp., alleging that the cable giant and its contractors drove it out of business by severing its business cable lines after it rejected Comcast's buyout offer. The lawsuit was filed last week in Harris County, Texas, court by Anthony Luna, owner of Telecom Cable LLC. John Oliver, the host of HBO's Sunday Show "Last Week Tonight," HBO and Time Warner have been sued by coal baron Robert Murray for mocking him and his coal company on the show's most recent episode. Murray had previously sent the show its first cease-and-desist letter.
comments powered by Disqus
Follow RTT