Gap Group'S Brand Continues To Meet Challenges

In the first quarter, Gap brand store sales declined 10% year-on-year, Banana Republic Banana Republic fell 8%, while Old Navy Old Navy's April decline was offset by 14% growth in March, while the same store sales grew 3% in the same quarter.

The group's same store sales decreased by 4% on a year-on-year basis, and the total sales in the first quarter ended in May 2nd decreased by 2.9% to 3 billion 660 million US dollars, less than the $3 billion 760 million expected by the market, and the reduction of US dollar appreciation (US $90 million) was 0.5%.

However, the group's expectations for the first quarter of EPS 0.55-0.56 dollar is not too bad, to meet the market expectations of 0.54-0.55 dollars.

Gap Inc. (NYSE:GPS) closed at $39.87 on Monday, a slight increase of 0.66% a day and 2.18% down to 39 dollars after the session, which has fallen 5% as of Monday.

The group will announce its first quarter results in May 21st.

Gap Inc. (NYSE:GPS), the largest clothing retailer in the US

Sustained weakness in the same name Gap brand and Banana Republic Banana Republic, plus dollar strength and calendar factors, April and first quarter

They are all worse than market expectations.

April Gap

Same store sales fell 15% year-on-year, down 11% from market forecasts and 2 in March and 7% in March.

In addition, the cheap brand Old Navy Old Navy and the Banana Republic Banana Republic also recorded a decline of 6% and 15% respectively. The average difference was 5.6% and 6.2% lower than the market expected. The group's overall sales in the same month last year decreased by 12%, far higher than the 7% expected by the market. The group pointed out that although the earlier Easter holidays this year helped the sales in March, it weakened the performance in April.

As of May 2nd, the group's total sales in April amounted to 1 billion 210 million US dollars, down 9% from 1 billion 330 million US dollars in the same period last year.