Gap Inc., once a powerhouse behind casual American sportswear, has recently struggled with competition from fast fashion brands and keeping up with e-commerce.
The company’s revealed Thursday that fourth quarter fiscal year 2015 comparable sales were down 7 percent. Banana Republic was negative 10 percent, while Old Navy, previously the strongest segment, was flat. The company’s adjusted diluted earnings per share were $0.57 for the fourth quarter of fiscal year 2015 and $2.43 for fiscal year 2015. Net sales were $16.2 billion for fiscal year 2015 on a constant currency basis.
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