Gap Inc Reports Disappointing February Sales Results; March Might Be Better

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Gap Inc Reports Disappointing February Sales Results; March Might Be Better

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Gap Inc Reports Disappointing February Sales Results; March Might Be Better

by Wochit 0:40 mins

Gap Inc Reports Disappointing February Sales Results; March Might Be Better

by Wochit 0:40 mins

After exhibiting tremendous resilience against the edgy retail environment and unfavorable climate conditions during the fourth quarter of fiscal 2013, Gap Inc ‘s sales declined substantially in February 2014. Comparable store sales fell by 7% during the month after recording a modest growth of 1% in the holiday quarter. Management blamed store closures and low foot traffic on account of extreme cold for its dismal sales. The company’s performance was below par considering that it is one of the most popular brands in the U.S. and consumer spending was relatively better in February.

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