- Prachi Singh |
Gap net sales for the four weeks period ended January 30, 2016 were 813 million dollars compared with net sales of 888 million dollars for the four-week period ended January 31, 2015. For the fourth quarter of fiscal year 2015, the company’s net sales were 4.39 billion dollars compared with 4.71 billion dollars for the fourth quarter last year. On a constant currency basis, net sales decreased 5 percent for the fourth quarter.
“We are pleased to guide to the high end of our previously announced full-year earnings per share range,” said Sabrina Simmons, Chief Financial Officer of Gap, adding, “As we kick-off fiscal year 2016, our brands look forward to introducing their new Spring collections to customers.”
January comparable sales decline 8 percent
Gap’s comparable sales for January 2016 were down 8 percent versus negative 3 percent last year. Comparable sales at Gap Global were negative 6 percent versus negative 9 percent last year, at Banana Republic Global, negative 17 percent versus positive 2 percent last year and at Old Navy Global, negative 6 percent versus positive 3 percent last year.
Comparable sales for the fourth quarter were down 7 percent versus positive 2 percent last year. Comparable sales at Gap Global in the fourth quarter were negative 3 percent versus negative 6 percent last year, at Banana Republic Global, negative 14 percent versus positive 1 percent last year and at Old Navy Global: negative 8 percent versus positive 11 percent last year.
The company has narrowed its full-year adjusted diluted earnings per share guidance range to 2.41 dollars to 2.42 dollars, excluding the one-time negative impact from the previously announced strategic actions of about 0.20 dollar per diluted share, for fiscal year 2015. For the fourth quarter, the company expects adjusted diluted earnings per share to be in the range of 0.56 dollars to 0.57 dollars.