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Gap Inc reports flat sales for Feb
10
Mar '08
Gap Inc reported net sales of $907 million for the four-week period ended March 1, 2008, which was flat compared with net sales of $907 million for the same period ended March 3, 2007. The company's comparable store sales for February 2008 decreased 6 percent compared with a 4 percent decrease for February 2007.

Comparable store sales by division for February 2008 were as follows:

• Gap North America: negative 3 percent versus negative 5 percent last year
• Banana Republic North America: negative 5 percent versus flat last year
• Old Navy North America: negative 8 percent versus negative 6 percent last year
• International: negative 7 percent versus positive 2 percent last year

“While overall results were mixed across our brands, total company merchandise margins were above last year,” said Sabrina Simmons, executive vice president and chief financial officer at Gap Inc. “We will continue to manage inventory tightly as we bring summer product into our stores.”

Gap Inc


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