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
Harry Potter and the Cursed Child is the best-selling book of 2016 overall and in the Kids & Teens category, confirming the ongoing demand for Harry Potter, Amazon announced. The book, by J.K. Rowling, Jack Thorne and John Tiffany, is also this year's Most Wished For and Most Gifted book. Airline industry profits in 2016 are now expected to be slightly lower than previous view, yet would reach a peak of $35.6 billion, the International Air Transport Association or IATA said Thursday. Meanwhile, profits would decline in 2017 amid overcapacity, rising fuel costs and political turmoil. Burger King has introduced a donut burger in Israel to celebrate the Jewish festival of Hanukkah. The burger will be called the SufganiKing, a play on the Hebrew word for donut, which is sufganiyot. The burger will be sold for about $4.
comments powered by Disqus
Follow RTT