Skip to main content

Gap Posts Seventh Consecutive Quarterly Sales Decline

When it’s deliver-or-die, supply chains become the lifeblood of a company. To that end, the fashion industry has embraced technology to navigate today’s hyper-complicated supply chain, with myriad solutions shaping the first, middle and last mile. Call it Sourcing 2.0.

Gap Inc. reported its seventh straight quarter of sales declines Thursday, which sent shares (GPS) spiraling down more than 12 percent the following morning. The San Francisco-based company’s net sales decreased 2 percent to $3.8 billion in the third quarter ended Oct. 29, compared with $3.86 billion last year. Profits fell to $204 million or 51 cents per share, versus $248 million or 61 cents per share.

Read more at Sourcing Journal.