Gap Q2 sales up 12 percentFriday, 03 August 2012
Gap reported that net sales for the second quarter of fiscal year 2012 increased 6
percent compared with last year, and July 2012 net sales increased 12 percent compared with last year.
Net sales for the second quarter increased 6 percent to 3.58 billion dollars compared with 3.39 billion dollars for the same quarter last year. The company’s second quarter comparable sales were up 4 percent compared with a 2 percent decrease in the period last year.
“We are pleased with our second quarter sales performance and the continued positive trend we’re experiencing in North America,” said Glenn Murphy, chairman and chief executive officer at Gap.
In addition, net sales for the four-week period ended July 28, 2012, were 1.06 billion dollars compared with net sales of 950 million dollars for the same period last year. The company’s comparable sales for July 2012 were up 10 percent compared with a 5 percent decrease in July 2011.
Year-to-date net sales were 7.06 billion dollars for the 26 weeks ended July 28, 2012, which was an increase of 6 percent compared with net sales of 6.68 billion dollars for the 26 weeks ended July 30, 2011. The San Francisco company’s year-to-date comparable sales increased 4 percent compared with a 2 percent decrease last year.