The FINANCIAL — Gap Inc. on September 1 reported that net sales for the four-week period ended August 27, 2016 decreased 2 percent to $1.17 billion compared with net sales of $1.20 billion for the four-week period ended August 29, 2015.
“While we are pleased with the continued progress at Old Navy, we remain focused on improving results across our global brands,” said Sabrina Simmons, chief financial officer, Gap Inc.
August Comparable Sales Results
Gap Inc.’s comparable sales for August 2016 were down 3 percent versus a 2 percent decrease last year. Comparable sales by global brand for August 2016 were as follows:
Gap Global: negative 5 percent versus negative 8 percent last year
Banana Republic Global: negative 10 percent versus negative 11 percent last year
Old Navy Global: positive 1 percent versus positive 6 percent last year