The retailer's comparable store sales fell 4 per cent, against a decrease of 11 per cent in the four weeks to February. The company said that, because of the 53rd week in the 2006 financial year, February 2007 comparable store sales are compared with the four-week period ending March 4, 2006.
Comparable store sales were down 5 per cent at Gap North America, faring slightly better than the 7 per cent decline last year. Banana Republic North America's comparable store sales were flat, against a decrease of 11 per cent the previous year. Old Navy North America's comparable store sales were down 6 per cent; they declined 14 per cent the previous year. However, international comparable store sales increased 2 per cent, compared with a decline of 14 per cent last year.
Gap senior vice-president of corporate finance Sabrina Simmons said: 'During February, Banana Republic customers continued to respond to the brand's product assortments and accessories and, in particular, the men's collection performed well.
'As expected, results at Gap and Old Navy continued to be challenging, although the childrens business performed stronger than the adult business at both brands.'
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