Dec 2, 2010
Gap Inc. November sales up 6%
Dec 2, 2010
Gap Inc. has reported that November 2010 net sales were up 6 percent from last year. Net sales for the four-week period ended November 27, 2010 were $1.51 billion compared with net sales of $1.42 billion for the same period in 2009.
The company’s comparable store sales for November 2010 were up 4 percent compared with flat comparable store sales for November 2009.
“Overall, we are pleased with our November results and that customers responded well to our brands' initial holiday offers," said Sabrina Simmons, chief financial officer. “Throughout the fourth quarter, we will continue to focus on our goal of delivering top line growth.”
Comparable store sales for November 2010 were as follows:
• Gap North America: +5% against -4% last year
• Banana Republic North America: flat against -4% last year
• Old Navy North America: +5% against +6% last year
• International for all brands: -1% against -5% last year
Year-to-date net sales were $11.81 billion for the forty-three weeks ended November 27, 2010, an increase of 4 percent compared with net sales of $11.38 billion for the same period in 2009. The company’s year-to-date comparable store sales increased 2 percent compared with a 5 percent decrease last year.
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