Gap December Sales Fell 5%, Old Navy Sales Rose 8%
by MR Magazine Staff
Jan 09, 2015
Gap Inc. reported positive sales performance for the holiday months of November and December, enjoying a company-wide net sales boost of 4 percent and a comparable sales gain of 3 percent.
“During November and December, we were pleased to achieve a positive 3 comp, led by Old Navy with a very strong 12 comp for the combined holiday months,” said CEO Glenn Murphy in a statement.
By division, however, results were mixed in December: Gap Global reported comparable sales down 5 percent (vs. up 1 percent last year); Banana Republic Global comp sales were flat two years running; and Old Navy Global comp sales were up 8 percent (vs. down 2 percent last year).
