Lower sales at its Gap and Old Navy chains have dragged on Gap Inc’s August sales, the San Francisco-based retailer said today (2 September).
Net sales in the four weeks to 28 August were flat at $1.1bn, with same-store sales also flat compared with a drop of 3% last year.
By division, same-store sales fell by 1% at Gap North America and dropped 2% at Old Navy North America. But Banana Republic North America and its International business were both in positive territory, rising 6% and 5% respectively.
“While results were mixed across our brands in August, we remain focused on our overall goal of driving top line sales growth,” said Sabrina Simmons, chief financial officer of Gap Inc.
Year-to-date net sales are up 4% to $7.77bn, with comparable store sales 2% ahead.
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