Gap Inc. (GPS) Comp Sales Down 3%
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Gap Inc. (NYSE: GPS) comparable store sales for August 2009 were down 3% compared with an 8 percent decrease in August 2008.
Gap Inc. announced net sales of $1.12 billion for the four-week period ended August 29, 2009, which represents a 2 percent decrease compared with net sales of $1.14 billion for the four-week period ended August 30, 2008.
"During August, customers responded well to our denim collections at Gap and Old Navy," said Sabrina Simmons, chief financial officer of Gap Inc. "We were especially pleased by the progress at Old Navy and its strong back to school performance, which helped support total company merchandise margins significantly above last year."
Gap Inc. announced net sales of $1.12 billion for the four-week period ended August 29, 2009, which represents a 2 percent decrease compared with net sales of $1.14 billion for the four-week period ended August 30, 2008.
"During August, customers responded well to our denim collections at Gap and Old Navy," said Sabrina Simmons, chief financial officer of Gap Inc. "We were especially pleased by the progress at Old Navy and its strong back to school performance, which helped support total company merchandise margins significantly above last year."
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