Gap February sales fall

San Francisco – Gap Inc. had a disappointing February 2014 as net sales and same-store sales declined, compared to the same month in the prior year. Net sales fell 4% to $929 million from $966 million, while same-store sales dropped 7%.

Same-store sales decreased at all three major Gap global store banners, falling 10% at Gap, 7% at Banana Republic, and 6% at Old Navy. The company noted that more than 450 stores experienced closures during February due to weather. The company also noted that February typically represents the smallest month of the first quarter.

“While February was clearly a difficult month, we remain focused on executing our global priorities,” said Glenn Murphy, chairman and CEO, Gap Inc.
 

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