Inc. (NYSE: GPS) reported that December 2012 net sales
increased 5 percent compared with last year.
Net sales for the five-week period ended December 29, 2012 were $2.08 billion compared with net sales of $1.98 billion for the five-week period ended December 31, 2011. The company's comparable sales for December 2012 were up 5 percent compared with a 4 percent decrease for December 2011.
"Customers responded favorably to our product offerings and promotions during the holiday season overall," said Glenn Murphy, chairman and chief executive officer of Gap Inc. "We're pleased to continue delivering positive comps across all our brands in North America."
Comparable sales for December 2012 were as follows:
Gap North America: positive 2 percent versus negative 4 percent last year
Banana Republic North America: positive 1 percent versus negative 2 percent last year
Old Navy North America: positive 13 percent versus negative 4 percent last year
International: negative 6 percent versus negative 6 percent last year
Year-to-date net sales were $14.52 billion for the 48 weeks ended December 29, 2012, an increase of 6 percent compared with net sales of $13.72 billion for the 48 weeks ended December 31, 2011. The company's year-to-date comparable sales increased 4 percent compared with a 4 percent decrease last year.
The company will report January sales on February 7, 2013.
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