Gap comparable sales down 3%Monday, 10 May 2010
Gap last week reported net sales for April of $1.05 billion, which was flat compared with net sales of $1.05 billion for the four-week period ended May 2, 2009. The company’s comparable store sales for April 2010 were down 3 percent compared with a 4 percent decrease in April 2009.
In addition, the company reported that net sales for the first quarter, which ended May 1, 2010, grew 6 percent to $3.33 billion compared with $3.13 billion for the first quarter last year. The company’s first quarter comparable store sales increased 4 percent compared with a decrease of 8 percent in the first quarter of the prior year.
"With sales growth across all of our brands and significantly improved earnings, we are very pleased with our first quarter performance," said Sabrina Simmons, chief financial officer of Gap Inc.