Gap's July sales upMonday, 09 August 2010
Gap reported net sales increased 3 percent to $948 million for the four-week period ended July
31, 2010 compared with net sales of $924 million for the four-week period ended August 1, 2009. The company’s comparable store sales for July 2010 were up 1 percent compared with an 8 percent decrease in July 2009.
“We’re pleased that we delivered top line sales growth for July and the second quarter and that all of our brands cleared summer merchandise,” said Sabrina Simmons, chief financial officer of Gap Inc. “Looking ahead, we’re focused on offering customers strong value for back to school.”
Comparable store sales for July saw US stores down 6% compared to 9% last year. International sales were up 3% versus -4%last year
For the thirteen weeks ended July 31, 2010, total company net sales were $3.32 billion, which is an increase of 2 percent compared with net sales of $3.25 billion for the thirteen weeks ended August 1, 2009. The company’s second quarter comparable store sales increased 1 percent compared with a decrease of 8 percent in the second quarter last year.
The company will report August sales on September 2, 2010.