Gap, Inc. (GPS) March Comps Rose 2%
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Overall Analyst Rating:
NEUTRAL ( Up)
Dividend Yield: 2.2%
Revenue Growth %: -0.3%
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Gap, Inc. (NYSE: GPS) reported that net sales for the five-week period ended April 4, 2015 increased 1 percent to $1.53 billion compared with net sales of $1.51 billion for the five-week period ended April 5, 2014.
“We are especially pleased with the strong customer response to Old Navy during this peak spring shopping month, and we remain focused on the steps necessary to drive improved product consistency across our entire portfolio,” said Sabrina Simmons, chief financial officer, Gap Inc.
March Comparable Sales Results
Gap Inc.’s comparable sales for March 2015 were up 2 percent versus a 6 percent decrease last year. The company noted that the earlier timing of the Easter holiday peak shopping weeks this year, as compared to last year, benefited the company’s March sales results and will likely negatively impact its April sales results.
Comparable sales by global brand for March 2015 were as follows:
- Gap Global: negative 7 percent versus negative 7 percent last year
- Banana Republic Global: negative 3 percent versus negative 4 percent last year
- Old Navy Global: positive 14 percent versus negative 7 percent last year
Additional insight into Gap Inc.’s sales performance is available by calling 1-800-GAP-NEWS (1-800-427-6397). International callers may call 706-902-4949. The recording will be available at approximately 1:00 p.m. Pacific Time on April 9, 2015 and available for replay until 1:00 p.m. Pacific Time on April 17, 2015.
April Sales
The company will report April sales on Monday, May 11, 2015.
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