Gap's Nov. Comps Slip 5%
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Thursday morning, specialty retailer Gap Inc. (GPS) announced a 5% drop in its comparable store sales for November compared to a 5% increase it witnessed last year. The company's North America,Old Navy North America and International comparable store sales witnessed a 2%, 7% and 9% fall compared to 6% growth, 7% growth and flat respectively in the year-ago month. The net sales for the month too slipped 3% to $1.47 billion from $1.51 billion in the previous year month. Gap's chairman and CEO Glenn Murphy commented, "this is just the start of the holiday selling season and we expect
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- People:
- Glenn Murphy
- Places:
- North America
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