Gap Inc. Reports November Sales

Gap Inc. Reports November Sales

SAN FRANCISCO--(BUSINESS WIRE) Dec. 01, 2011--Gap Inc. (NYSE:GPS) today reported that November 2011 net sales decreased 3 percent compared with last year.

“Our brands stand ready to compete at every opportunity to win customers over – in stores and online.”

Net sales for the four-week period ended November 26, 2011 were $1.47 billion compared with net sales of $1.51 billion for the four-week period ended November 27, 2010. The company’s comparable sales for November 2011, which include the associated comparable online sales, were down 5 percent compared with a 5 percent increase for November 2010.

“This is just the start of the holiday selling season and we expect December to remain fiercely competitive and highly promotional," said Glenn Murphy, chairman and chief executive officer of Gap Inc. “Our brands stand ready to compete at every opportunity to win customers over – in stores and online.”

Comparable sales for November 2011, including the associated comparable online sales, were as follows:

  • Gap North America: negative 2 percent versus positive 6 percent last year
  • Banana Republic North America: flat versus positive 1 percent last year
  • Old Navy North America: negative 7 percent versus positive 7 percent last year
  • International: negative 9 percent versus flat last year

Year-to-date net sales were $11.73 billion for the 43 weeks ended November 26, 2011, a decrease of 1 percent compared with net sales of $11.81 billion for the 43 weeks ended November 27, 2010. The company’s year-to-date comparable sales, including associated online sales, decreased 3 percent compared with a 3 percent increase last year.

December Sales

The company will report December sales on January 5, 2012.

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 brands. Fiscal year 2010 net sales were $14.7 billion. Gap Inc. products are available for purchase in over 90 countries worldwide through about 3,100 company-operated stores, about 200 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

Contacts

Gap Inc.
Mike Jenkins
415-427-4454 (Investor Relations)
investor_relations@gap.com

Emily Russel
415-427-6230 (Media Relations)
press@gap.com

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Blast & Brew
At Blast & Brew, we like to think “big.” That said, we’re vigorously seeking multi-unit investors to open at least three locations...
Copper Branch
No chef or previous restaurant experience required. Well established provider network controls both food and labour cost, guarantees a consistent...
PanIQ Escape Room
PANIQ ROOM is the most innovative and one of the fastest growing escape room franchise in the world. Join an established brand with proven results in...
Freshii
Eat. Energize. That's the Freshii mantra. Since 2005, Freshii has been on a mission to help the citizens of the world live better by making healthy...
Creamistry
Fresh and trendy liquid nitrogen ice cream mixes with a hot franchise opportunity for your success!
Share This Page

Subscribe to Franchising 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.