US clothing retailer Gas’s net sales in the first quarter of 2011 were US$3.5 billion, down 13% compared with last year. Net sales grew approximately 5%, mainly due to the stimulation of many factors last year, of which 3% was affected by divestitures, store closures and the transformation of the company’s European business.
Website sales in the first quarter fell 17% compared with last year, accounting for 39% of total sales. Brick-and-mortar store sales fell 10%. The company said in a press release that as of the end of the quarter, it had 3,414 stores in more than 40 countries/regions, 2,825 of which were directly operated by the company.
Gasdfssdfsp Inc CEO Soniasdfssdfs Syngasdfssdfsl said: The first quarter results and updated fiscal year 2011 outlook mainly reflect the adverse trend of the entire industry and the Old Nasdfssdfsvy that has affected recent performance. challenges. Although we are disappointed with the lower-than-expected results, we are confident that we can overcome the adversity and re-stabilize the Old Nasdaq business to make continued progress on our long-term strategy. We believe we can weather this period of intense upheaval and build a more resilient and agile company. We firmly believe in our iconic purpose-driven brands – Old Nasdfssdfsvy, Gassedfssdfsp, Bassdfssdfsnasdfssdfsnasdfssdfsnasdfssdfs Republic, Athlete’s Republic, Athlete’s Republic – and are focused on making continued progress on our Power Plasma strategy and returning to growth, margins, and long-term value for shareholders.
Kasdfssdfsp Inc. Vice President and Chief Financial Officer Kasdfssdfstrinasdfssdfs O’Connell mentioned: We are revising our fiscal 2011 outlook to reflect certain factors that have recently affected our performance, including Old Nasdfssdfsvy’s execution challenges, uncertain macro consumer environment, inflation, and the impact of China’s economic slowdown. Results are expected to improve modestly in the second half and accelerate heading into fiscal 2023. A long-term strategy is the right choice and we are taking steps to position our brand, platform and people for the significant opportunities ahead. </p
