Jan 12, 2015
Gap Inc : Old Navy saves the holiday season
Jan 12, 2015
During the Holiday period from November to December, the American group saw a 4% increase in sales that was only made possible by a rise in sales for its retail brand Old Navy. Compared to the same period one year ago, store sales rose by 3%.
The results cannot hide the difficulties encountered by the group in December. Its flagship retailer, Gap, saw a 5% drop in sales, while they had risen by 1% one year earlier. Like last year, Banana Republic posted stable results. It’s thus the group’s retail brand Old Navy that progressed, with an 8% rise.
With 3,200 stores, including 400 franchisees in 90 countries, Gap Inc. (Gap, Old Navy, Banana Republic...) generated a turnover of 12.9 billion euros (16.1 billion dollars) in 2013.
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