Gap seems to be feeling the April Showers. They've reported a 9% 
decrease in sales compared to last year at the same time. The Gap Inc. divisions include Gap North America, Banana Republic North America, Old Navy North America, and Gap International. Each of these divisions also experienced a dip in sales.
"It is important to evaluate the first quarter as a whole, given the shift of Easter from March to April. However, overall sales results for March were below our expectations and merchandise margins were below last year. Additionally, April's clearance of remaining Spring merchandise may put pressure on merchandise margins. As we've said in our previous guidance, we anticipate that total same-store sales will remain negative for the first half of this year," said Sabrina Simmons Senior VP, Treasury and Investor Relations.
For more Gap financials and to check out how the company's stock is doing, visit Google Finance: http://finance.google.com/finance?cid=13943
Source: Fibre2fashion.com
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