this will sting for longer than a second. <vbg>
is the blue light flashing over in the jeans department, harry?
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Gap October same-store sales up 1 pct
November 4, 1999 08:56 AM
SAN FRANCISCO, Nov 4 (Reuters) - Gap Inc. said on Thursday that its same-store sales increased 1 percent, as same-store sales at its flagship Gap chain fell and sales at Banana Republic and Old Navy gained.
Gap shares fell 1-11/16 to 33-13/16 in morning trading on the New York Stock Exchange.
Total sales rose 23 percent to $897 million for the four weeks ended Oct. 30 from $731 million for the same period a year ago.
The increase in Gap's same-store sales, or sales at stores open for more than a year, compares with an 18 percent increase in October 1998.
Gap Inc.'s October comparable store sales by division were as follows:
-- Gap stores posted a mid-single digit percent drop versus positive mid-teens last year
-- GapKids had a positive low-single digit versus a positive mid-single digit last year
-- Banana Republic had a positive mid-single digit versus positive low 20s last year
-- Old Navy turned in a positive mid-single digit versus positive middle 20s last year.
For the 39 weeks ended Oct. 30, sales increased 29 percent to $7.78 billion from $6.03 billion.
The company's year-to-date comparable store sales increased 8 percent compared to a 16 percent increase for the same period in 1998.
As of Oct. 30, 1999, Gap Inc. operated 2,809 stores, compared to 2,344 on Oct. 31, 1998, an increase of 20 percent. |
