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Article: GAP Sees Shoppers Return as It Returns to Basics.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 22, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Richard Thomson, Evening Standard, London Knight Ridder/Tribune Business News
Aug. 22--US clothing retailer Gap saw a spectacular rebound in its Old Navy and Gap stores in the second ...uarter, raising hopes that it has turned the corner from a recent sales slump.
Profits for the group in the three months to June more than tripled to $209.3 million (UKpound 132.7 million) from $56.8 million a year earlier while revenue rose 13 percent to $3.69 billion. Same-store sales rose by 10 percent.
Analysts said the results showed that the group's return to basic styles such as jeans and button-down shirts was proving a major success after its ...
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... ... Mickey Clark, Evening Standard, London Knight ... Ridder/Tribune Business News Aug. 17 ... more of the Evening Standard, or to subscribe ... c) 2004, Evening Standard, London ... Ridder/Tribune Business News. For information ...
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