Us Fast Fashion Gap Group Gained 2% Growth In June This Year.

The picture shows a store in Gap in China.

U.S.A

GPS released its sales report for June. In the first 5 weeks of July 2nd, the group's net sales in June amounted to US $1 billion 570 million, compared with the same period last year, sales in June of this year increased by 2%.

The Gap group's sales performance in the same store in June was better than last year, and also increased by 2%, compared with 1% in the same store last year, but also better than that of Thomson Reuters, which fell 3.2%.

In June this year, the group's high-end

Banana Republic fell 4% year-on-year sales, better than Thomson Reuters's 10.1% decline; group's other brand Old Navy grew 5% year-on-year, also better than Thomson Reuters's 3.3% decline; Gap brand sales fell 1%, a little better than Thomson's fall of 1.7%.

Gap group chief financial officer Sabrina Simmons and other executives of the group unanimously pointed out that the holiday in June brought a huge volume of traffic to the shops and further promoted sales in that month. The company has noticed that the flow of people in Old Navy stores has increased dramatically, so the sale of the brand in June has increased considerably.

After the release of the sales report, Gap group's share price rose 4% to $22.5 per share. The group's stock price grew by 10.75% over the past month, and the group's market value is now $8 billion 608 million.

The group's second quarter full report will be announced in August 18th, and FactSet predicts its sales will reach $3 billion 700 million and earnings per share are expected to be $46.

Among the rest of the fashion group that released the June retail report, only Vitoria's Secret parent company L Brands (LB) and sportswear, footwear and accessories retailer Zumiez Inc. (ZUMZ) sold more than the industry expected.

In the first 5 weeks of July 2nd, net sales of L Brands 6 rose 7% to $1 billion 296 million, up 6% from last year's sales, easily exceeding the 2.1% growth forecast of Thomson Reuters.

Zumiez Inc. fell 4.5% year-on-year, down 3.3% from the same period last year, but still outperforms Thomson Reuters's 6% forecast.