Gap (GPS) Comps Up 2% in August; Sales Up 3%
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Gap, Inc. (NYSE: GPS) reported that August 2013 net sales increased 3 percent compared with last year. Net sales for the four-week period ended August 31, 2013 were $1.23 billion compared with net sales of $1.20 billion for the four-week period ended August 25, 2012.
Due to the 53rd week in fiscal year 2012, August 2013 comparable sales are compared to the four-week period ended September 1, 2012. On this basis, Gap Inc.’s comparable sales for August 2013 were up 2 percent versus a 9 percent increase for August 2012.
Comparable sales by global brand for August 2013 were as follows:
* Gap Global: positive 2 percent versus positive 6 percent last year
* Banana Republic Global: positive 2 percent versus positive 8 percent last year
* Old Navy Global: positive 1 percent versus positive 12 percent last year
Additional insight into Gap Inc.’s sales performance is available by calling 1-800-GAP-NEWS (1-800-427-6397). International callers may call 706-902-4949. The recording will be available at approximately 1:00 p.m. Pacific Time on September 5, 2013 and available for replay until 1:00 p.m. Pacific Time on September 13, 2013.
Due to the 53rd week in fiscal year 2012, August 2013 comparable sales are compared to the four-week period ended September 1, 2012. On this basis, Gap Inc.’s comparable sales for August 2013 were up 2 percent versus a 9 percent increase for August 2012.
Comparable sales by global brand for August 2013 were as follows:
* Gap Global: positive 2 percent versus positive 6 percent last year
* Banana Republic Global: positive 2 percent versus positive 8 percent last year
* Old Navy Global: positive 1 percent versus positive 12 percent last year
Additional insight into Gap Inc.’s sales performance is available by calling 1-800-GAP-NEWS (1-800-427-6397). International callers may call 706-902-4949. The recording will be available at approximately 1:00 p.m. Pacific Time on September 5, 2013 and available for replay until 1:00 p.m. Pacific Time on September 13, 2013.
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