International Sales Decline At Gap

Gap is continuing to see its international sales decline as many markets remain tough. The retail group has reported sales of $1.3bn for the four-week to the end of October, a 5 per cent increase on the same period last year.

Comparable store sales for October increased by 3 per cent compared with a 1 per cent increase a year ago. In the US, the Gap chain saw 7 per cent sale growth, with Banana Republic up 3 per cent and Old Navy up 4 per cent.

In contrast, Gap International same store sales were down by 11 per cent. Sabrina Simmons, senior vice president, treasury and investor relations, said; "We're pleased with how our overall performance improved in October as Gap, Banana Republic and Old Navy continued to clear fall merchandise. We're well positioned for holiday and the launch of our marketing campaigns this month."

Across the 13 weeks to October 30, group sales are up 1 per cent to $4bn, with same store sales down 1 per cent. Gap International same store sales were down by 10 per cent across the quarter.