Gap reports 2 percent increase in June net sales

Gap net sales for the five-week period ended July 2, 2016 increased 2 percent to 1.57 billion dollars compared with net sales of 1.54 billion dollars for the same period ended July 4, 2015.

“We are pleased to see better performance across the portfolio this month, partly driven by an improvement in June traffic trends, particularly at Old Navy,” said Sabrina Simmons, Chief Financial Officer, Gap.

Gap’s comparable sales for June 2016 were up 2 percent versus a 1 percent decrease last year. Comparable sales at Gap Global were negative 1 percent versus negative 5 percent last year, at Banana Republic Global, negative 4 percent versus positive 1 percent last year and at Old Navy Global, positive 5 percent versus positive 1 percent last year.

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