Gap Inc. (GPS) Reports Flat Comps for June
Up)
Gap Inc. (NYSE: GPS) today reported that June 2010 net sales were up 2 percent from last year. Net sales for the five-week period ended July 3, 2010 were $1.31 billion compared with net sales of $1.29 billion for the five-week period ended July 4, 2009. The company’s comparable store sales for June 2010 were flat compared with a 10 percent decrease in June 2009.
Comparable store sales for June 2010 were as follows:
Year-to-date net sales were $5.70 billion for the 22 weeks ended July 3, 2010, an increase of 5 percent compared with net sales of $5.45 billion for the 22 weeks ended July 4, 2009. The company’s year-to-date comparable store sales increased 3 percent compared with an 8 percent decrease last year.
Comparable store sales for June 2010 were as follows:
- Gap North America: negative 3 percent versus negative 10 percent last year
- Banana Republic North America: positive 6 percent versus negative 20 percent last year
- Old Navy North America: flat versus negative 7 percent last year
- International: flat versus negative 5 percent last year
Year-to-date net sales were $5.70 billion for the 22 weeks ended July 3, 2010, an increase of 5 percent compared with net sales of $5.45 billion for the 22 weeks ended July 4, 2009. The company’s year-to-date comparable store sales increased 3 percent compared with an 8 percent decrease last year.
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