Athleta Sales Increased 20% Last Year
Athleta sales hit $883 million in 2018, parent Gap Inc. revealed in a Meet the Management presentation in advance of its planned spin off of Old Navy, a 20% increase from $737 million the year before. Some of the increase came from a new revenue recognition standard, which implies sales growth decelerated somewhat from 2017’s 21% gain against $607 million in 2016 sales. Previously, GPS had only reported Athleta’s revenues as part of its Other segment, which also includes its several dozen Intermix doors. It also noted that 43% of that 2018 revenue came from e-commerce, and that it expects ... Log in to view full article.