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Gap international sales flat

Gap recorded flat sales in January at its international business, which includes its UK shops.

Its international performance was against a 5% fall in sales in January 2008.

Over the 13 weeks to January 31, Gap’s international sales fell by 4%.

Gap as a group saw sales fall 19% in January, equivalent to a like-for-like sales slump of 23%. Over the 13 week fourth quarter period, Gap sales fell 13% to $4.08 billion (£2.79bn) but the company said it had improved margins.

Gap chief financial officer Sabrina Simmons said: “Though January was a challenging month overall, we were able to deliver merchandise margins significantly above last year. As we look at the full year, we’re pleased our guidance represents growth of more than 25% in earnings per share.”

 

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