Gap
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.
January Sales
The company will report January sales on February 7, 2013.
