8/23/13

Gap zips up a 27% online sales increase in the second quarter

The chain says it will open an Old Navy e-retail site in China.

Bill Briggs , Senior Editor

E-commerce helped Gap Inc. grow second quarter sales, accounting for 34.1% of total revenue growth.

For the second quarter ended Aug. 3, Gap reported:

The web accounted for 12.0% of total sales for the quarter, compared with 10.3% in the same period last year.

In keeping with its strategy to expand Old Navy internationally, Gap said yesterday it plans to open the brand's first store in Shanghai and launch an Old Navy e-commerce site in China in the first half of 2014. The retailer ended the quarter with 10 Old Navy stores in Japan, on pace to open 15 to 20 stores for the year, it said.

Gap continued to expand its Gap store base in mainland China in the second quarter, opening six stores, for a total of 55. The company also said it plans to bring its Gap brand to Taiwan with its first store opening in the first half of 2014, along with a Gap e-commerce site.

For the six months ended Aug. 3, Gap reported:

E-commerce accounted for 12.8% of total sales in the first half of 2013, compared with 10.9% in the same period of 2012.

Gap Inc. Direct, the retailer’s e-commerce unit, is No. 19 in Internet Retailer’s 2013 Top 500 Guide.

Topics:

2013 Top 500, apparel chain, China e-commerce, Gap, Gap Direct, Q2 2013 earnings, Q2 earnings, Taiwan e-commerce, Top 500

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