×
188
Fashion Jobs
PUMA
Operations Coordinator Ecommerce
Permanent · Manchester
LAIDBACK LONDON
Social Media And E-Commerce Manager
Permanent · HARROW
SHISEIDO
Bareminerals Account Manager - Boots, Hull (30)
Permanent · Kingston upon Hull
NEW BALANCE
Associate Marketing Manager, European Key Accounts
Permanent · Warrington
NEW BALANCE
Associate Trade Marketing Manager, Lifestyle
Permanent · Warrington
ARCADIA GROUP
SEO Executive
Permanent · London
ARCADIA GROUP
HR Manager - Leeds Distribution Centre
Permanent · Leeds
SHISEIDO
Bareminerals Account Manager - Boots Clayton Square (30)
Permanent · Liverpool
SHISEIDO
Bareminerals Account Manager - Debenhams, Trafford (35)
Permanent · Stretford
SHISEIDO
Bareminerals Account Manager - Debenhams, Carlisle (22.5)
Permanent · Carlisle
ARCADIA GROUP
Environments And Release Manager
Permanent · LONDON
ARCADIA GROUP
Operations Engineering Manager - Technology
Permanent · London
SHISEIDO
Bareminerals Account Manager - Debenhams, Colchester (Maternity Cover)
Permanent · Colchester
TOPSHOP TOPMAN
Online Visual Merchandising Manager
Permanent · London
TOPMAN
Buyer (Maternity Cover)
Permanent · London
SHISEIDO
Accounts Payable Manager
Permanent · LONDON
BURTON
Senior Buyer - Tailoring - Maternity Cover
Permanent · LONDON
TOPSHOP TOPMAN
Senior Marketing Manager
Permanent · London
TJX CORPORATE
Information Technology Graduate (2021)
Permanent · WATFORD
SHISEIDO
Bareminerals Account Manager - Hoopers, Wilmslow (Maternity Cover) (37.5)
Permanent · Manchester
SHISEIDO
Bareminerals Account Manager - Debenhams, Winchester (Maternity Cover)
Permanent · Hampshire
SHISEIDO
Bareminerals Account Manager - Debenhams, Ipswich (37.5)
Permanent · Ipswich
By
Published
Nov 8, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Gap October, third quarter sales hindered by distribution center fire

By
Published
Nov 8, 2016

Gap reported its October and third quarter sales results on Monday. Sales for the Gap and Banana Republic brands continue to slip and could not be saved by Old Navy’s positive performance.


Gap's third quarter net sales were $3.80 billion compared to $3.86 billion in the previous third quarter.


October net sales were $1.20 billion, or flat when compared to the previous year’s comparable period, and third quarter net sales were $3.80 billion compared to $3.86 billion in the previous third quarter.
 
Total company October comparable sales fell 1% compared to falling 3% in 2015. The Fishkill distribution center fire negatively impacted the comparable sales by 3 percentage points. Gap Global comparable sales were down 7%, Banana Republic Global was negative 4%, and Old Navy Global was positive 3%, but all were negatively impacted by the fire.

Gap noted that the exceptionally high October margin rates offset the estimated lost sales and increased costs from the Fishkill distribution center fire. An intentional fire destroyed the Fishkill center in September and negatively impacted the company’s September same store sales.
 
Third quarter comparable sales fell 3% compared to decreasing 2% in 2015. Gap Global and Banana Republic Global third quarter comparable sales were both negative 8%, and Old Navy Global was positive 3%.
 
“As we close out the quarter, we are pleased to see a continued positive customer response to our Old Navy product collections,” said Sabrina Simmons, chief financial officer, Gap Inc.
 
For the third quarter of 2016, Gap expects its diluted EPS to range between $0.50 and $0.51, and for the adjusted diluted EPS to range between $0.59 and $0.60.

Copyright © 2020 FashionNetwork.com All rights reserved.