The Third Quarter Profits Fell By 1.3%

2010/12/18 16:02:00 77

Gap lost 1.3% of its profits in the third quarter due to a negative growth in the same sales volume of the OldNavy Navy fashion chain, which offset its overseas profits.

In a recent statement, the division revealed that as of October 30th, the net profit of the GAAP group dropped from $307 million a year ago to $303 million, while the company's revenue increased by 1.8% to $3 billion 650 million.

The GAAP group failed to capitalize on the recent rise in consumer spending in the US, the third quarter of the US.

consumption

The growth of expenditure is almost the fastest growth in four years.

Despite a 3% increase in overseas sales in the same year, the comparable sales in the Old Navy dropped by 2%.

Glenn Murphy, chief executive of the division, revealed that the company was in the same store in the third quarter.

Sale

The amount may fall due to the stagnation of sales in the North American market.

The Wall Street Journal quoted Murphy as saying that although the sales target of the same store in GAAP group was unchanged or increased by 5%, its comparable store sales did not rise.

The same store sales in September fell by 2% compared with the same period last year, while the same store sales in October increased by 2%.

The GAAP group is announces new accusations.

trademark

Only a week later, the original trademark was declared restored in early October.

The GAAP group, which has been using the original trademark for more than 20 years, has made it worse because it has never said that it will pay for the design of the new trademark which is solicited to the public.