Gap May net sales up by 4%

Gap announced its financial results for the month of May 2012. With an increase of 4 percent, net sales in the month of May 2012 were reported to be $1.10 billion compared to $1.06 billion for the same period last year. Comparable sales increased by 2 percent compared with a 4 percent decrease in 2011.

“We're pleased with overall customer response to summer product in May which helped us deliver positive comparable sales for the company,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.

Year-to-date net sales ended May 26, 2012 increased by 5 per cent to $4.59 billion compared to $4.36 billion last year. Company’s year-to-date comparable sales too grew by 3 percent, as compared to 3 percent decrease in the previous year.

Gap based in San Francisco is a 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. Gap Inc. products are available in over 90 countries worldwide through about 3,000 company-operated stores, about 200 franchise stores, and e-commerce sites.