Inc. (NYSE:GPS) today reported that May 2012 net sales increased 4
percent compared with last year.
Net sales for the four-week period ended May 26, 2012 were $1.10 billion
compared with net sales of $1.06 billion for the four-week period ended
May 28, 2011. The company’s comparable sales for May 2012 were up 2
percent compared with a 4 percent decrease for May 2011.
"We're pleased with overall customer response to summer product in May
which helped us deliver positive comparable sales for the company,” said
Glenn Murphy, chairman and chief executive officer of Gap Inc.
Comparable sales for May 2012 were as follows:
Gap North America: positive 6 percent versus negative 4 percent last
Banana Republic North America: positive 8 percent versus negative 6
percent last year
Old Navy North America: negative 1 percent versus negative 1 percent
International: positive 1 percent versus negative 9 percent last year
Year-to-date net sales were $4.59 billion for the 17 weeks ended May 26,
2012, an increase of 5 percent compared with net sales of $4.36 billion
for the 17 weeks ended May 28, 2011. The company’s year-to-date
comparable sales increased 3 percent compared with a 3 percent decrease
The company will report June sales on July 5, 2012.
About Gap Inc.
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. Fiscal 2011 net sales were $14.5 billion. Gap Inc. products are
available for purchase in over 90 countries worldwide through about
3,000 company-operated stores, about 200 franchise stores, and
e-commerce sites. For more information, please visit www.gapinc.com.