Gap reports 2 percent decline in August net sales

Gap net sales for the four-week period ended August 27, 2016 decreased 2 percent to 1.17 billion dollars compared with net sales of 1.20 billion dollars 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.

Gap’s comparable sales for August were down 3 percent versus a 2 percent decrease last year. Comparable sales at Gap Global were negative 5 percent versus negative 8 percent last year, at Banana Republic Global, negative 10 percent versus negative 11 percent last year and at Old Navy Global, positive 1 percent versus positive 6 percent last year.