Gap December sales down 4 percent

Gap net sales for the five-week period ended January 2, 2016 decreased 4 percent to 2.01 billion dollars, compared with net sales of 2.10 billion dollars for the five-week period ended January 3, 2015. On a constant currency basis, December 2015 net sales decreased 3 percent when compared with last year.

“As we bring the holiday season to a close, we look forward to delivering new spring collections across our brands,” said Sabrina Simmons, CFO of Gap.

Comparable sales for December 2015 were down 5 percent versus a 1 percent increase last year. Comparable sales at Gap Global were negative 2 percent versus negative 5 percent last year, at Banana Republic Global, negative 9 percent versus flat last year and at Old Navy Global - negative 7 percent versus positive 8 percent last year.