Gap Inc.: Old Navy rescues sales in March

By

Matthieu Guinebault

Published
Apr 13, 2015

The American company’s sales grew by 1% in March (the second month of its fiscal year) to 1.53 billion dollars, bolstered exclusively by sales by Old Navy.

Sales of the Gap brand, meanwhile, saw a 7% decline, having already fallen by 7% in March 2014. Banana Republic fared better, with a decline of only 3%, having recorded a 4% decline one year earlier. Barely maintaining its sales in February, Old Navy saw a 14% rise, compared with a 7% increase last year. 

In 2014, the company generated a turnover of over 15 billion dollars, up 2% after changes. Its operating income, meanwhile, declined by 3%. As of the end of its latest fiscal year, Gap Inc. had some 3,709 stores, including 3,280 that are directly managed.