Gap Comps. In August Falls 2%

(RTTNews) - Gap Inc (GPS) on Thursday said its comparable sales for the four-week period ended August 29, 2015 slid 2 percent.

Among brands, August comparable sales at Gap was negative 8 percent, Banana Republic was negative 11 percent, and Old Navy was positive 6 percent.

Gap said its net sales in August decreased 3 percent to $1.20 billion from $1.23 billion last year. On a constant currency basis, sales were flat compared with last year.

The company noted that this year's Labor Day holiday is one week later, as compared to last year, offsetting the benefit from the shift of tax-free holidays in a number of states from July last year to August this year.