Gap's management pleased with 7% gain in Jan sales
03 Feb '06
3 min read
Apparel retailer Gap Inc reported net sales of $955 million for the four-week period ended January 28, 2006, which represents a 7 percent increase compared with net sales of $891 million for the same period ended January 29, 2005.
The company's comparable store sales for January 2006 increased one percent compared with a seven percent decrease in January 2005.
Comparable store sales by division for January 2006 were as follows:
- Gap North America: positive 3 percent versus negative 6 percent last year
- Banana Republic North America: negative 6 percent versus positive 7 percent last year
- Old Navy North America: flat versus negative 13 percent last year
- Gap International: positive 7 percent versus negative 8 percent last year
Sabrina Simmons, Senior Vice President said that Overall they are pleased with their January performance, as total company sales were above expectations.
While customers responded to their brands' efforts to clear holiday merchandise, their merchandise margins were significantly below last year."
For the 13 weeks ended January 28, 2006, total company net sales were $4.8 billion, which is a decrease of 2 percent to net sales of $4.9 billion for the same period ended January 29, 2005.
The company's fourth quarter comparable store sales decreased 6 percent compared with a decrease of three percent in the fourth quarter of the prior year.
Comparable store sales by division for the fourth quarter were as follows:
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