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› Gap's slump extends into December as retailer posts a 5 per cent drop in a key revenue measure
Gap's slump extends into December as retailer posts a 5 per cent drop in a key revenue measure
2016-01-08 02:17:45| Apparel - Topix.net
Gap's shares dropped in after-hours trading after the retailer reported a sales slump that extended into December that included even Old Navy, once a bright spot for the company. The San Francisco-based clothing retailer, which also operates stores under its own brand as well as Banana Republic, said Thursday that a key sales measure fell 5 per cent for the five-week period ended Jan. 2. By division, the key revenue measure at Gap fell 2 per cent, while Banana Republic posted a 9 per cent drop.
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Category:Consumer Goods and Services