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The numbers
• $3.7 billion: Gap Inc.’s net sales during the second quarter, representing a 2% year-over-year decline. There was a 3% decrease in store sales and 1% decrease in ecommerce sales.
• $1.3 billion: Operating expenses, making up 34.3% of net sales.
• $844 million: Net sales at Gap, up 9% year-over-year.
• $264 million: Net sales at Athleta, down 12% year-over-year.
The watercooler talk
Gap Inc.’s second-quarter earnings showed a mixed bag of results across its four brands: Gap, Old Navy, Banana Republic, and Athleta.
Gap is the standout star, increasing net sales by 9% and comparable sales by 10% year-over-year during the second quarter.
