On Friday, Shares of Groupon, Inc. (NASDAQ:GRPN), remained flat to $4.33.
Groupon declared that private equity firm, Sequoia, has agreed to invest in Groupon India. Groupon will remain a noteworthy shareholder.
Groupon India will continue to operate under Ankur Warikoo’s leadership. Groupon’s Shared Service Centers in Chennai and Bangalore will remain under the sole control and operation of Groupon.
Groupon, Inc. operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount worldwide. It also offers deals on products for which it acts as the merchant of record.
Shares of The Gap, Inc. (NYSE:GPS), declined -0.06% to $34.23, during its last trading session, hitting its lowest level.
The Gap, stated that net sales for the four-week period ended August 1, 2015 were $1.12 billion contrast with net sales of $1.17 billion for the four-week period ended August 2, 2014. For the second quarter of fiscal year 2015, Gap Inc.’s net sales reduced 2 percent to $3.90 billion contrast with $3.98 billion for the second quarter last year.
July Comparable Sales Results
Gap Inc. comparable sales for July 2015 were down 3 percent as compared to a 2 percent enhance last year. Comparable sales by global brand for July 2015 were as follows:
- Gap Global: negative 7 percent as compared to negative 2 percent last year
- Banana Republic Global: negative 10 percent as compared to positive 6 percent last year
- Old Navy Global: positive 3 percent as compared to positive 3 percent last year
The company noted that tax-free holidays in several states shifted from July last year to August this year. In addition, the company noted that this year’s Labor Day holiday is one week later, as contrast to last year.
The Gap, Inc. operates as an apparel retail company worldwide. It offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brand names.
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