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Gap -5% after Banana Republic sales crumble

Oct. 08, 2015 4:35 PM ETThe Gap, Inc. (GPS) StockBy: Clark Schultz, SA News Editor3 Comments
  • 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.

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