Gap November Comparable Sales Down 1%


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(RTTNews.com) - Gap Inc. ( GPS ) reported that its comparable sales for November 2016 were down 1 percent versus an 8 percent decrease last year. The company estimated that the fire, which occurred in a building on its Fishkill, New York distribution center campus, negatively impacted Gap Inc.'sNovember 2016 comparable sales by approximately 3 percentage points.

Additionally, the company noted that the majority of the fire-related negative impact to comparable sales during the fourth quarter of fiscal year 2016 occurred in November.

Net sales for the four-week period ended November 26, 2016 were $1.53 billion compared with net sales of $1.57 billion for the four-week period ended November 28, 2015.

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This article appears in: Earnings
Referenced Symbols: GPS


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