San Francisco’s Gap Inc. (GPS) reported Thursday that net sales for September were down 3 percent compared to the same period last year.
Net sales reached $1.43 billion for the five-week period ended October 6, 2007 compared to $1.46 billion for the period ending Sept. 30 2006.
Comparable store sales were down 7 percent compared with a 3 percent decrease in September last year. The downward trend was most pronounced for the Gap North America division, which showed a decline of 10 percent for same store sales compared to 5 percent last year.
