Skip to main content
BoF Logo

Agenda-setting intelligence, analysis and advice for the global fashion community.

The Business of Fashion
Retail

Gap Says Key Sales Measure Slides 6 Percent in May

Gap says sales at established stores fell 6 percent in May. That was better than the 7 percent decline forecast by Thomson Reuters.
Gap store | Source: Shutterstock
By
  • Associated Press

NEW YORK, United States — Gap says sales at established stores fell 6 percent in May. That was better than the 7 percent decline forecast by Thomson Reuters.

Sales in stores open at least a year is a key metric of a retailer's health.

By division, same-store sales fell 3 percent at Gap stores, 11 percent at Banana Republic and 7 percent at Old Navy.

The San Francisco-based retailer said Thursday that the entire month was challenging, but its performance improved toward the Memorial Day weekend.

ADVERTISEMENT

For the four weeks ended May 30, total sales fell more than 5 percent to $1.18 billion from $1.25 billion.

Gap has long been struggling, unable to get shoppers to buy its clothes without offering big discounts. chief executive officer Art Peck, who came to the helm in February 2015, has been trying to overhaul the business.

In after-hours trading, Gap Inc. shares rose nearly 5 percent to $19.18. For the year to date, shares are down about 26 percent.

© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

The New Reality of Shipping to Saks

While $1.75 billion in court-approved funding has brought labels back to the fold, the real test for vendors will come when that temporary safety net vanishes later this year.

The Step-by-Step Guide to Brand Elevation | Case Study

A growing number of mass and premium brands are pushing upmarket with a more luxe look, better materials and, often, higher prices. This case study unpacks how these labels are navigating the tricky challenge of elevating a brand.

view more
Latest News & Analysis
Unrivalled, world class journalism across fashion, luxury and beauty industries.

Estée Lauder’s Surprise Acquisition, Explained

The American cosmetic giant’s buyout of Ayurvedic beauty line Forest Essentials came as a surprise. By picking an under-the-radar brand it knows well, the company can show that it’s still in the M&A game without needing to outbid rivals.

VIEW MORE

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.