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Gap sales drop 7% in June

Gap's international sales dropped 7% last month, compared to June the previous year.

Like-for-like sales for the group were also down 7% for the five weeks to July 5. Total sales were $1.41 billion (£713m), down 2% on the same period the previous year.

The group operates the Gap, Banana Republic and Old Navy chains. North American sales at Gap and Banana Republic dropped 5%. Old Navy sales were down 10%.

Gap Inc chief financial officer Sabrina Simmons said: "Our June sales events helped us successfully clear through summer merchandise at each brand. As a result we achieved total company merchandise margins significantly above last year, and our stores are well-positioned for early fall product."

Net sales for the 22 weeks to July 5 were $5.88bn (£2.97m), down 5%. Like-for-like sales for the period dropped 11%.

Gap Inc operates more than 3,100 stores in the US, UK, Canada, France, Ireland and Japan.

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