After the bell on Thursday, The Gap Inc. (GPS
) announced its sales figures for February, which were down 7% from last year’s February sales
Gap’s sales for the month came in at $929 million, compared to last year’s February sales of $966 million. Last year, the sales were up 3% for the month. Gap put part of the blame for the lower sales on the extreme weather seen across the U.S. in February, which saw closures in 450 Gap stores.
For Gap Global, worldwide comparable store sales were down 10%, compared to 2% growth last year. Banana Republic had negative same store sales of 7% while Old Navy’s sales were down 6%.
Gap stock was down $1.54, or 3.64%, in pre-market trading. YTD, the company’s stock is up 9.22%.
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