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Gap Inc. Reports March Sales Results

The following excerpt is from the company's SEC filing.

Gap Inc. (NYSE: GPS) today reported that net sales for the five-week period ended April 2, 2016 were $1.43 billion compared with net sales of $1.53 billion for the five-week period ended April 4, 2015.

“While March proved challenging, we remain focused on taking the necessary steps to improve results across the portfolio throughout the year," said Sabrina Simmons, chief financial officer, Gap Inc.

March Comparable Sales Results

Gap Inc.’s comparable sales for March 2016 were down 6 percent versus a 2 percent increase last year. Comparable sales by global b rand for March 2016 were as follows:

Gap Global:

negative 3 percent versus negative 7 percent last year

Banana Republic Global:

negative 14 percent versus negative 3 percent last...