Gap Inc. (GPS) said Thursday that its same-store sales increased 2% in July.
For July, same-store sales fell 2% at the company's namesake stores, while it rose 6% at Banana Republic stores and rose 3% at Old Navy stores.
Net sales for the four-week period ended August 2, 2014 increased 5% to $1.17 billion from $1.12 billion for the four-week period ended August 3, 2013.
For the second quarter, same-store sales were flat, while net sales increased 3% to $3.98 billion from $3.87 billion for the second quarter of last year.
The company said it expects second quarter earnings to be in the range of $0.73 to $0.74 per share, which includes a benefit of about $0.05 per share from a gain on the sale of a building owned but not occupied by the company. Excluding the benefit, the company expects its adjusted second quarter earnings to be $0.68 to $0.69 per share.
Analysts polled by Thomson Reuters currently expect the company to earn $0.66 per share on revenue of $3.96 billion for the second quarter.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.