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Gap like-for-likes dip over Christmas

Like-for-like sales at US giant Gap’s international arm, which includes the UK, dropped 4% in the five weeks to January 1.

It compares with a 1% like-for-like drop at the international arm in December 2009.

For the whole group, including its domestic market, like-for-like sales at Gap were down 3% over the key Christmas trading period. The drop compared with a 2% rise for December 2009. Gap North America was the hardest hit with like-for-likes down 8%.

Net sales for the period equalled the previous year figure at $2.0bn (£1.29bn).

Gap chief financial officer Sabrina Simmons said: “After a strong start to the holiday season in November, sales and traffic trends for our brands were less consistent in December.”

Like-for-likes for the 48 weeks to January 1 were up 1%. Total sales were $13.82bn (£8.89bn), up 3% year-on-year.


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