The American casual wear company reported a 1% net sales drop for September. The net sales for September amounted to $ 1.45 billion, compared with $ 1.47 during the same period last year.

Gap Inc. owns Gap U.S., Gap International, Banana Republic and Old Navy. Only Banana Republic achieved a positive result with 6% sales this September. However, the results pale next to the 12% sales it managed the same time last year.

The company reduced its total number of stores to 3,038 this year, compared with 3,076 last year. Sabrina Simmons, Senior Vice President of Treasury and Investor Relations, confirmed the disappointing results but said that the company was taking a long-term view on business and that holiday products are being introduced at the Gap, Banana Republic and Old Navy later this month.