Gap’s web sales grow 2.3% in Q3 as total sales fall
23.11.2015 440 views
Old Navy and e-commerce provided some good news in a tough fiscal third quarter for Gap Inc.
The apparel retailer reported Thursday that online sales increased 2.3% to $635 million in the quarter ended Oct. 31, up from $621 million last year. However, net sales decreased 3% and comparable-store sales were down 2%.
“With a challenging third quarter behind us, we are sharply focused on holiday execution across all channels,” Gap CEO Art Peck said in a statement accompanying the earnings release. “We are driving forward on our key strategies designed to fuel future growth.” Of Gap’s major brands, only Old Navy registered comparable-store growth, increasing 4% over the same quarter last year.
While the retailer’s net sales are down 2.7% for the year, web sales are up nearly 1% to $1.727 million from $1.711 million.
Asked about e-commerce on a conference call with analysts, Peck said Thursday that Gap’s greatest online opportunity is in serving shoppers on mobile devices. He says the retailer already has reworked its e-commerce sites using responsive design techniques, so that the sites adapt to the size of the screen the consumer is viewing. It also now uses more images in place of text and has improved mobile checkout and promotions.
“We’re making sure the experience is emotional, immersive and aspirational on a mobile device, but also transactionally efficient,” he said. “That’s probably the biggest opportunity we’ve got right now.”
Source: Internet Retailer
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