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Gap like-for-likes fall 4%

Gap International, which includes its UK stores, saw like-for-like sales fall 4% for the first quarter ended May 2. Group comparable sales decreased by 8%.

Net sales within Gap’s international division fell back 7.2% to $369 million (£251.8m).

Group sales also fell back 7.3% to £3.13 billion (£1.98bn).

Margin was down 10 basis points at 39.6% over the first quarter.

Gap chairman and chief executive Glenn Murphy said: “We’re pleased with the way we navigated the challenging economic environment, and are particularly encouraged by Old Navy’s recent performance. We remain focused on increasing traffic and gaining back market share across all of our brands by offering customers the right products and shopping experiences.”

Gap has 173 stores in Europe. Across the world it has 3,149 stores.

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