US fashion giant Gap has reported that sales in February dropped 12 per cent to US$795m, a comparable store sales drop of 12 per cent.

In its international division, which includes Gap and Banana Republic in the UK, comparable store sales fell 6 per cent.

In North America, Gap recorded a 12 per cent fall in comparable store sales. Sales at Banana Republic North America slumped 16 per cent. Old Navy’s sales plummeted 13 per cent.

Gap chief financial officer Sabrina Simmons said: “While sales results were challenging, we’re pleased that merchandise margins were in line with last year.”

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