Gap
Inc. (NYSE:GPS) today reported that August 2012 net sales increased
9 percent compared with last year.
Net sales for the four-week period ended August 25, 2012 were $1.20
billion compared with net sales of $1.10 billion for the four-week
period ended August 27, 2011. The company’s comparable sales for August
2012 were up 9 percent compared with a 6 percent decrease for August
2011.
"Our August results underscore our focus to deliver trend-right product
supported by great store execution," said Glenn Murphy, chairman and
chief executive officer of Gap Inc. "In addition, we drove strong
back-to-school sales, particularly at Old Navy."
Comparable sales for August 2012 were as follows:
-
Gap North America: positive 9 percent versus negative 8 percent last
year
-
Banana Republic North America: positive 8 percent versus negative 4
percent last year
-
Old Navy North America: positive 12 percent versus negative 4 percent
last year
-
International: negative 2 percent versus negative 9 percent last year
Year-to-date net sales were $8.26 billion for the 30 weeks ended August
25, 2012, an increase of 6 percent compared with net sales of $7.78
billion for the 30 weeks ended August 27, 2011. The company’s
year-to-date comparable sales increased 4 percent compared with a 3
percent decrease last year.
September Sales
The company will report September sales on October 4, 2012.
About Gap Inc.
Gap Inc. is a leading global specialty retailer offering clothing,
accessories, and personal care products for men, women, children, and
babies under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta
brands. Fiscal 2011 net sales were $14.5 billion. Gap Inc. products are
available for purchase in about 90 countries worldwide through about
3,000 company-operated stores, over 200 franchise stores, and e-commerce
sites. For more information, please visit www.gapinc.com.
