Gap’s strong quarter is good news for denim
US retailer Gap has reported higher-than-expected sales figures for the third quarter - its seventh consecutive three-month period of growth - as its head of design tells Inside Denim how jeans are integral to the company’s success.
Jane Pattinson spoke to us for our Dialogue section to explain how monitoring how Gen Z and Millennials wear denim helps to inform their style direction – and which paid off with their recent Katseye campaign. She also explains how its employee welfare programmes are parts of the business she is most proud of.
The group - which also includes Old Navy, Banana Republic and Athleta - reported sales of $3.9 billion for the third quarter, 3% higher than the same period last year.
Group CEO Richard Dickson said: “Our strategy is working and our brands are gaining momentum with our three largest brands - Old Navy, Gap, and Banana Republic - each posting strong comparable sales.
“The strength of our third quarter and quarter-to-date performance positions us well for the holiday selling season and gives us the confidence to increase our full year net sales outlook to the high end of our prior guidance range and raise our full year operating margin outlook.”
