Gap’s August sales rise by 9 percentFriday, 31 August 2012
For the month of August 2012, Gap reported an increase
of 9 percent in it sales as compared with same period last year. Net sales for the four-week period ended August 25, 2012 were 1.20 billion dollars compared with net sales of 1.10 billion dollars for the four-week period ended August 27, 2011. The company’s comparable sales for the month 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.
Year-to-date net sales increased 6 percent to 8.26 billion dollars for the 30 weeks ended August 25, 2012, compared with net sales of 7.78 billion dollars 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.
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. Fiscal 2011 net sales were 14.5 billion dollars. Gap 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.