Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nyse  >  Gap Inc    GPS   US3647601083

GAP INC (GPS)

37
Delayed Quote. Delayed Nyse - 07/02 04:02:31 pm
38.62 USD   +0.44%
05:56p Greeks deeply divided heading into crucial vote
09:26aDJPoll Suggests Close Greek Bailout Vote
05:55aDJEurozone Business Activity Hits Four-Year High
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Gap : Sales Still Sliding Under Rebekka Bay

07/11/2014 | 01:50pm US/Eastern

A Gap employee, probably not thinking about June's sales results. Photo: Justin Sullivan/GettyImages

Last month, Gap Inc. reported a 5 percent dip in sales for the first quarter of 2014, a drop that CEO Glenn Murphy emphasized was not the fault of Gap's new-ish creative director, Rebekka Bay. She didn't have the full support staff she needed while designing her first collection, Murphy said, and with a newly fleshed-out team including Gap vet Michelle DeMartini leading merchandising, she would get the job done. 

Well, June's sales results are in, and Gap isn't seeing that promised turnaround just yet. 

Comparable sales for the brand sunk 7 percent, versus a 5 percent increase during the same time last year. To be fair, Banana Republic's global sales dropped the same amount in June — so at least Bay wasn't alone in her collection's under-performance. Old Navy buoyed up sales for the company overall, growing 7 percent to bring Gap Inc. to only a 2 percent drop in comparable sales for the period.

Murphy noted in a release that Gap and Banana Republic are "focused on delivering" with their fall collections. We want to believe in you, too, Rebekka. Please nail it this fall.

(c) 2014 Breaking Media, Inc. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

React to this article
Latest news on GAP INC
05:56p Greeks deeply divided heading into crucial vote
09:26aDJPoll Suggests Close Greek Bailout Vote
05:55aDJEurozone Business Activity Hits Four-Year High
04:51a GAP : The new force at Old Navy: 4 loyalty Lessons from a retail revival
07/02 UK annual house price growth slowest in two years -Nationwide
07/01 Poll - Big U.S. investors expect Greeks to vote in favour of bailout
07/01 BIG U.S. INVESTORS EXPECT GREEKS TO : Reuters Poll
07/01 Greek referendum poll shows lead for 'No' vote, but narrowing
06/29 Euro slumps over Greek crisis but climbs against dollar
06/29 Spanish, Italian government borrowing costs jump as Grexit fears spread
Advertisement
Chart
Duration : Period :
Gap Inc Technical Analysis Chart | GPS | US3647601083 | 4-Traders
Income Statement Evolution
More Financials