Gap (GPS) May Comps Rose 7%, Sales up 11%
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Gap, Inc. (NYSE: GPS) reported that May 2013 net sales increased 11 percent compared with last year.
Net sales for the four-week period ended June 1, 2013 were $1.22 billion compared with net sales of $1.10 billion for the four-week period ended May 26, 2012.
“We are pleased with the positive customer response to summer product across our brands and the continued momentum in the business,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.
Due to the 53rd week in fiscal year 2012, May 2013 comparable sales are compared to the four-week period ended June 2, 2012. On this basis, the company’s comparable sales for May 2013 were up 7 percent compared with a 2 percent increase for May 2012.
Comparable sales by global brand for May 2013 were as follows:
* Gap Global: positive 8 percent versus positive 4 percent last year
* Banana Republic Global: flat versus positive 7 percent last year
* Old Navy Global: positive 9 percent versus negative 1 percent last year
Net sales for the four-week period ended June 1, 2013 were $1.22 billion compared with net sales of $1.10 billion for the four-week period ended May 26, 2012.
“We are pleased with the positive customer response to summer product across our brands and the continued momentum in the business,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.
Due to the 53rd week in fiscal year 2012, May 2013 comparable sales are compared to the four-week period ended June 2, 2012. On this basis, the company’s comparable sales for May 2013 were up 7 percent compared with a 2 percent increase for May 2012.
Comparable sales by global brand for May 2013 were as follows:
* Gap Global: positive 8 percent versus positive 4 percent last year
* Banana Republic Global: flat versus positive 7 percent last year
* Old Navy Global: positive 9 percent versus negative 1 percent last year
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