- Gap (NYSE:GPS) reports total sales for September fell 1% to $1.46B (+2% in constant currency). Comp sales were down 1% during the month.
- Comparable sales growth by brand: Gap Global flat, Banana Republic Global -10%, Old Navy Global +4%.
- The company says it expects gross margin rate in FQ3 will be similar to the rate seen in FQ2.
- GPS -5.0% after hours to $27.50.