Gap Inc. Reports Fourth Quarter and Fiscal Year 2018 Results
Comparable Sales Results: Due to the 53rd week in fiscal 2017, comparable sales for the fourth quarter and fiscal year 2018 are compared with the 13-week and 52-week periods ended February 3, 2018. On this basis, the company’s fourth quarter comparable sales were down 1% compared with a 5% increase last year. Comparable sales by global brand for the fourth quarter were as follows: • Old Navy Global: flat versus positive 9% last year • Gap Global: negative 5% versus flat last year • Banana Republic Global: negative 1% versus positive 1% last year. For fiscal year 2018, the company’s comparable sales were flat compared with a 3% increase last year. Comparable sales by global brand for fiscal year 2018 were as follows: • Old Navy Global: positive 3% versus positive 6% last year • Gap Global: negative 5% versus negative 1% last year • Banana Republic Global: positive 1% versus negative 2% last year. Click read more below for additional detail.