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Gap’s August Sales Flat

Banana Republic, international sales were up

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Gap Inc. (San Francisco) reported net sales of $1.1 billion for the four-week period ended August 28, 2010, which was flat compared with August 29 2009. Same-store sales were also flat.

Looking it each brand, same-store sales for Gap North America dropped 1 percent; Banana Republic North America’s rose 6 percent; Old Navy North America declined 2 percent; and international sales grew 5 percent.

“While results were mixed across our brands in August, we remain focused on our overall goal of driving top line sales growth,” says Sabrina Simmons, chief financial officer of Gap Inc.

For year to date, net sales are $7.77 billion, rising 4 percent compared to last year; comparable-store sales are up 2 percent.

Gap Inc. operates more than 3000 stores in the U.S., Canada, the U.K., France, Ireland and Japan. The company is also expanding its international presence with franchise agreements in Asia, Australia, Europe, Latin America and the Middle East.
 

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