US-based apparel retailer Gap Inc. has announced its third quarter results. On a reported basis, Gap Inc.’s third quarter fiscal year 2015 diluted earnings per share were US $ 0.61. On an adjusted basis, the company’s diluted earnings per share were US $ 0.63, excluding a US $ 0.02 impact from strategic actions previously announced on June 15, 2015.
In the period under review, Gap Inc.’s net sales dived 3 per cent to US $ 3.86 billion compared with US $ 3.97 billion for the third quarter last year. Total online sales increased to US $ 635 million for the third quarter of fiscal year 2015 compared with US $ 621 million in the third quarter last year.
Also Read – GAP Inc. to expand its P.A.C.E. programme for advancement of one million women
Art Peck, CEO of Gap Inc. averred, “Old Navy delivered another consecutive quarter of growth. Gap has made advancement on its transformation agenda and is looking ahead to introducing customers to its new spring collection, which symbolizes American style.”
Gap Inc. is a leading retailer offering clothing, accessories, etc. for men, women and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brands. Its products are available for purchase in over 90 countries across the world through around 3,300 company-operated stores, more than 400 franchise stores, and e-commerce sites.
