Gap rings up 11.9 billion euros in sales for 2013

By

Olivier Guyot

Published
Feb 9, 2014

For fiscal year 2013/2014, Gap's fourth-quarter momentum was not quite on par with the same period a year earlier. While in January 2013, the U.S. group posted 8% sales growth compared to the previous year, this time around in January 2014, the company will have to be satisfied with an increase of only 1%. For the last quarter of its fiscal year just closed, growth was 1% versus 5% a year earlier.

For this quarter, net sales increased by 1% for Gap compared to the same period a year earlier. Old Navy sales remained stable while Banana Republic’s dropped 3%. Overall group sales dropped from 3.48 to 3.37 billion euros, down 3%. But this decline is connected to the fiscal year calendar 2013/2014, which has 52 weeks while fiscal year 2012/2013 had 53 weeks.

For the overall fiscal year ended February 2, the American group recorded sales of 11.9 billion euros (16.15 billion US dollars), an increase of 2 %.