Gap Inc. (GPS) Reports Decline in June Same-Store Sales
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Gap Inc. (NYSE: GPS) reported net sales of $1.45 billion for the five-week period ended July 7, 2007, which represents a 4% decrease compared with net sales of $1.51 billion for the five-week period ended July 1, 2006.
Due to the 53rd week in fiscal year 2006, June 2007 comparable store sales are compared to the five-week period ended July 8, 2006. On this basis, the company's comparable store sales for June 2007 decreased 5% compared with a 6% decrease in June 2006.
Comparable store sales by division for June 2007 were as follows:
Gap North America: -9% versus -4% last year
Banana Republic North America: +6% versus -4% last year
Old Navy North America: -7% versus -6% last year
International: flat versus -14% last year
Due to the 53rd week in fiscal year 2006, June 2007 comparable store sales are compared to the five-week period ended July 8, 2006. On this basis, the company's comparable store sales for June 2007 decreased 5% compared with a 6% decrease in June 2006.
Comparable store sales by division for June 2007 were as follows:
Gap North America: -9% versus -4% last year
Banana Republic North America: +6% versus -4% last year
Old Navy North America: -7% versus -6% last year
International: flat versus -14% last year
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