Gap August net sales down 3 percent

Gap said that net sales for the four-week period ended August 29, 2015 decreased 3 percent to 1.20 billion dollars compared with net sales of 1.23 billion dollars for the four-week period ended August 30, 2014. On a constant currency basis, August 2015 net sales were flat compared with last year.

“We’re pleased that Old Navy delivered another strong month of positive comps driven by a healthy back-to-school business, as we remain focused on improving product performance across our portfolio,” said Sabrina Simmons, Chief Financial Officer, Gap.

Comparable sales for the month were down 2 percent versus a 2 percent decrease last year. Comparable sales by global brand at Gap Global were negative 8 percent versus negative 6 percent last year, at Banana Republic Global, negative 11 percent versus negative 2 percent last year and at Old Navy Global, positive 6 percent versus positive 2 percent last year.

The company will report September sales on October 8, 2015.