Apparel retailer Gap Inc reports 2% fall in Q4 sales
24 Feb '06
1 min read
World's largest specialty retailers Gap Inc announced net earnings for the fourth quarter of $337 million, or 0.39 per share on a diluted basis, compared to $378 million, or $0.40 per share for the same period last year.
Fiscal year 2005 earnings per share were $1.24, up from $1.21 for fiscal year 2004.
"Despite challenges in 2005, they delivered on their growth initiatives, and their strong cash flow enabled them to significantly increase their dividend and repurchase shares," said Gap Inc CEO and President Paul Pressler.
"In 2006, they are aggressively taking actions to improve product and win back their customers."
Gap Inc is a leading international specialty retailer offering clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy and Forth & Towne brand names.
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