United States: Gap reports higher sales for Q2, July
ChainStoreAge.com - Aug 12th, 09:52
San Francisco -- Gap Inc. reported net sales of $3.87 billion for the second quarter of 2013, up 8% from $3.58 billion for the second quarter last year. Net sales for July of this year totaled $1.12 billion, close to 6% higher than $1.06 billion in July of the previous year.
Meanwhile, Gap and its Banana Republic and Old Navy brands had a tough July in terms of same-store sales but a pretty good second quarter. During July, Gap global same-store sales rose 7% as compared to 10% last year, while Banana Republic global same-store sales fell 1% as opposed to an 8% increase last year. Old Navy global same-store sales fell 5% last month compared to an 8% hike in July 2012.
However, except for Banana Republic the company had a successful second quarter for same-store sales. Gap global same-store sales grew 6% in Q2 2013, double the 3% growth recorded a year earlier, and Old Navy reported identical results. Banana Republic did not fare so well, reporting a 1% same-store sales decline compared to a 3% increase last year.
The company expects diluted earnings per share for the second quarter of fiscal year 2013 to be in the range of $0.62 to $0.64. This compares to diluted earnings per share for the second quarter of fiscal year 2012 of $0.49. Gap will release its full Q2 2013 earnings statement on Aug. 22.From ChainStoreAge.com
SA wool prices softer
24/10/2013 - 09:41
Port Elizabeth - The South African wool market ended softer this week, Cape Wools said on Wednesday.
UK clothing label George hits local shelves, today
23/10/2013 - 12:51
Massmart will open the doors to three George pop up stores today, to give South African consumers a taste of the famous British brand of clothing.
Asian shares rise after Wall St rally
23/10/2013 - 09:52
Hong Kong - Asian markets mostly rose on Monday, with sentiment buoyed by last week's deal in Washington to avert a default as well as a record close on Wall Street.
US debt hits record $17 trillion
22/10/2013 - 09:28
Washington - The US debt jumped above $17 trillion for the first time in history, the Treasury Department has said.
Dollar General tests fuel stations, United States
21/10/2013 - 11:29
Goodlettsville, Tenn. – Dollar General is opening its first fuel station, as part of a test pilot project. The new fuel pumps are located at the Dollar General Market in Hanceville, Ala.