The company reiterated that it expects year-over-year inventory per square foot to be flat at the end of the third quarter.
Comparable store sales by division for the third quarter were as follows: * Gap North America: negative 7 percent versus negative 4 percent last year * Banana Republic North America: positive 3 percent versus negative 7 percent last year * Old Navy North America: negative 7 percent versus negative 8 percent last year * International: negative 6 percent versus negative 10 percent last year.
As of October 28, 2006, Gap Inc. operated 3,157 store locations compared with 3,117 store locations last year.
Gap Inc. will release its third quarter earnings via press release on November 16, 2006, at 1:30 p.m. Pacific Time. In addition, the company will host a summary of Gap Inc.'s third quarter results in a live conference call and webcast at approximately 2:00 p.m. Pacific Time.
The conference call can be accessed by calling 800-374-0168 and international callers may dial 706- 634-0994. The webcast can be accessed at http://www.gapinc.com. Gap Inc. will announce November sales on November 30, 2006.
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