Gap (GPS) Sept Comps Down 7%
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Gap Inc. (NYSE: GPS) said comparable store sales for September 2007 decreased 7 percent.
Gap reported net sales of $1.43 billion for the five-week period ended October 6, 2007, which represents a 3 percent decrease compared with net sales of $1.46 billion for the five-week period ended September 30, 2006.
Sabrina Simmons, executive vice president of Gap Inc. finance, said, "Our merchandise margins in September were in line with last year and we are comfortable with our inventory levels, which we continue to manage tightly heading into the important holiday season."
Gap reported net sales of $1.43 billion for the five-week period ended October 6, 2007, which represents a 3 percent decrease compared with net sales of $1.46 billion for the five-week period ended September 30, 2006.
Sabrina Simmons, executive vice president of Gap Inc. finance, said, "Our merchandise margins in September were in line with last year and we are comfortable with our inventory levels, which we continue to manage tightly heading into the important holiday season."
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