Gap September net sales up 8 percentFriday, 05 October 2012
Gap has announced its financial results for September with
an 8 percent increase in its net sales compared with last year. Net sales for the five-week period ended September 29, 2012 were 1.45 billion dollars compared with net sales of 1.35 billion dollars for the five-week period ended October 1, 2011. The company’s comparable sales for September 2012 were up 6 percent compared with a 4 percent decrease for September 2011.
“In September, strong customer response to trend-right product across all brands helped us deliver continued positive performance in North America," said Glenn Murphy, chairman and chief executive officer of Gap Inc.
Year-to-date net sales were 9.71 billion dollars for the 35 weeks ended September 29, 2012; an increase of 6 percent compared with net sales of 9.12 billion dollars for the 35 weeks ended October 1, 2011. The company’s year-to-date comparable sales increased 5 percent compared with a 3 percent decrease last year.
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. Its fiscal 2011 net sales stood at 14.5 billion dollars.