Gap reports net sales growth of 2% in June

Comparing to last year, Gap reported its net sales to have increased by two per cent for the month of June 2012. Net sales for the five-week period ended June 30, 2012 were $1.41 billion compared with net sales of $1.38 billion for the same period last year. The company’s comparable sales for were flat compared with a one per cent increase for June 2011. “We’re pleased with our overall sales performance in June, especially the continued positive trend in our North America business,” said Glenn Murphy, chairman and chief executive officer of Gap.

Year-to-date net sales grew by five per cent to $6 billion for the 22 weeks ended June 30, 2012 compared with net sales of $5.73 billion for the same period last year. The company’s year-to-date comparable sales increased three percent compared with a two percent decrease last year.

Gap is a 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. Gap products are available for purchase in about 90 countries worldwide through about 3,000 company-operated stores, about 200 franchise stores, and e-commerce sites.