Gap Inc. Reports February Sales

SAN FRANCISCO --(BUSINESS WIRE)-- Gap Inc. (NYSE:GPS) today reported net sales of $838 million for the four-week period ended February 27, 2010, which represents a 5 percent increase compared with net sales of $795 million for the four-week period ended February 28, 2009. The company's comparable store sales for February 2010 were up 3 percent compared with a 12 percent decrease in February 2009.

"This demonstrates that our goal to improve the top line is gaining traction." .Comparable store sales for February 2010 were as follows:

  • Gap North America: flat versus negative 12 percent last year
  • Banana Republic North America: positive 6 percent versus negative 16 percent last year
  • Old Navy North America: positive 5 percent versus negative 13 percent last year
  • International: flat versus negative 6 percent last year

"We're pleased that we increased our sales in February, delivering a positive comp with merchandise margins significantly above last year," said Sabrina Simmons, chief financial officer of Gap Inc. "This demonstrates that our goal to improve the top line is gaining traction."

March Sales

The company will report March sales on April 8, 2010.

About Gap Inc.

Gap Inc. is a leading global specialty retailer offering clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy, Piperlime and Athleta brand names. Fiscal 2009 sales were $14.2 billion. Gap Inc. operates about 3,100 stores in the United States, the United Kingdom, Canada, France, Japan and Ireland. In addition, Gap Inc. is expanding its international presence with franchise agreements in Asia, Europe, Latin America and the Middle East.

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Jersey Mike's Subs
Jersey Mike's, a fast-casual sub sandwich franchise with more than 1,500 locations open and under development nationwide, believes that making a sub...
Dogtopia
Dogtopia® is your one-stop shop for award-winning dog daycare, boarding and spa services.
BirthdayPak
BirthdayPak is an award-winning marketing platform that brings local upscale businesses together with their best customers.
Discovery Point Child Development Centers®
• 30 years of brand strength in educational childcare • Only childcare franchise with a flat fee system (vs. fees based on % of your total...
Tune Up Salon
Tune Up "The Manly Salon" is now offering Franchising Nationally! With a proven walk-in/VIP business model that delivers high revenue per...
Share This Page

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.