Gap June net sales flat, narrows comparable sales decline

Gap, for the five-week period ended July 4, 2015 reported net sale of 1.54 billion dollars or flat compared with last year. On a constant currency basis, net sales increased 2 percent.

“As previously announced, we’re taking significant actions to help improve Gap brand’s performance,” said Sabrina Simmons, Chief Financial Officer, Gap.

Gap’s comparable sales for June 2015 were down 1 percent versus a 2 percent decrease last year. Comparable sales at Gap Global were negative 5 percent versus negative 7 percent last year, at Banana Republic Global, positive 1 percent versus negative 7 percent last year and at Old Navy Global, positive 1 percent versus positive 7 percent last year.