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Gap online sales rise by 11% in second quarter

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Gap online sales rise by 11% in second quarter
Gap online sales rise by 11% in second quarter
Gap’s online sales grew by 11% to $515m (£310.5m) in its latest quarter as it continued to invest in digital.

The growth came as the US fashion retailer, which trades in the UK both online and through more than 120 stores, said net sales grew to $3.98bn (£2.4bn) in the second quarter of its financial year, 3% up on the same time last year. Comparable sales, which strip out the effect of store openings and closures, were flat where a year ago they had risen by 5%.

The 11% growth in online sales was down on last year’s 27% increase. Gap said it continued “to enhance its digital capabilities for customers,” with measures including the expansion of its reserve in store service across all US Gap stores. It also piloted order in store in the US, and plans to roll that to select stores across its brands, which also include Banana Republic, Old Navy and Athleta.

In other highlights, the company unveiled plans to sell in India through franchise stores opening in 2015, while it is also growing its presence in China as part of a strategy of global expansion.

“Building on last year’s strong performance, we are pleased to have grown our sales three percent and delivered solid improvement in earnings per share,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “We remain focused on our strategic initiatives as we turn our focus toward delivering a strong second half.”

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