Gap
Same store sales slumped 11 percent at Gap Inc. in July.
The San Francisco clothing seller (NYSE: GPS) had sales of $998 million in the four weeks ended Aug. 2, down from $1.05 billion in the same period a year ago.
Retail watchers consider same store sales, which compare performance only at stores open at least a year, to be an important gauge of a company’s health.
They fell in every Gap business unit during July — down 6 percent for Gap North America, down 8 percent for Banana Republic and down 16 percent at Old Navy pay day loans. International same store sales fell 9 percent.
Sabrina Simmons is Gap’s chief financial officer.