Gap Reports Sales Boost for May

Gap Inc. (San Francisco) is announcing a 4-percent increase in sales this May compared to the same period last year. Among its divisions, Gap North America reported a 6-percent increase, while Banana Republic announced gains of 8 percent. Old Navy North America noted a 1-percent dip, while international sales were up 1 percent compared to May 2011.

“We're pleased with overall customer response to summer product in May which helped us deliver positive comparable sales for the company,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. The company also announced year-to-date net sales of $4.59 billion through May 26.