GAP announced its financial results

USA: GAP Inc. has announced its financial results for the four-week period ended January 28, 2017. The company’s net sales for the period increased 2% to US $ 828 million compared with net sales of US $ 813 million for the four-week period ended January 30, 2016. For the fourth quarter of fiscal year 2016, GAP’s net sales increased by 1% to US $ 4.43 billion compared with US $ 4.39 billion for the fourth quarter last year.

The fashion retailer’s comparable sales for January 2017 were up 1% compared with a decline of 8% last year. Its Old Navy brand sales noted positive 2% growth against negative 6% last year while Banana Republic Global noted negative 4% versus negative 17% last year. GAP is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the GAP, Banana Republic, Old Navy, Athleta, and Intermix brands. The company’s products are available for purchase in more than 90 countries worldwide through about 3,300 company-operated stores, about 450 franchise stores, and e-commerce.