Gap posts sales decline in Q4, expects recovery in 2021

Gap’s diluted earnings per share were 61 cents for the fourth quarter of fiscal year 2020. The company said, net sales were 4.4 billion dollars, a decrease of 5 percent compared with last year, while online sales grew 49 percent compared with last year and represented 46 percent of net sales in the fourth quarter, which was an increase of over 17 percentage points versus last year. Store sales declined by 28 percent in the quarter, while comparable sales remained flat.