Gap Inc. sales rise 7% for March

By

Matthieu Guinebault

Published
Apr 14, 2013

The U.S. apparel group announced earnings of 1.56 billion dollars in sales this past March compared to 1.46 billion dollars in March 2012. However, the growth hides a slight decrease of 1% on a comparable basis for the month of March, which last year grew 8% for the same period.

“Overall, we’re pleased with the month and are focused on selling our strong spring product to customers across all brands and channels globally,” said Glenn Murphy, Gap CEO.

Global sales of the Gap brand increased 7% compared to the same period last year, while Old Navy suffered a 2% decline after it had posted an increase of 11% in March 2012. The company’s Banana Republic label grew by 1%, which is in line with an increase of 5% recorded for the month last year.

The Gap Group currently distributes its brands Gap (Gap, Old Navy, Banana Republic, Piperlime, Athleta ...) in 90 countries through a network of 3,000 of its own stores and 300 franchises. In 2012, the group earned 12 billion euros (15.6 billion dollars) in sales. The group will hold its shareholders meeting on April 17 to discuss its strategy.