Gap Inc net sale remains unchanged in Nov

02 Dec '05

2 min read

Specialty retailer Gap Inc reported net sales of $1.4 billion for the four-week period ended November 26, 2005, compared with net sales of $1.4 billion for the same period ended November 27, 2004.

The company's comparable store sales for November 2005 decreased 4 percent compared with a 4 percent decrease in November 2004.

Comparable store sales by division for November 2005 were as follows:

Comparable store sales by division for November 2005 were as follows:

-- Gap North America: negative 5 percent versus negative 1 percent last year

-- Banana Republic North America: negative 5 percent versus negative 3 percent last year

-- Old Navy North America: negative 2 percent versus negative 5 percent last year

-- Gap International: flat versus negative 5 percent last year

"Although traffic remained challenging at Gap and Banana Republic in November, they were pleased that traffic trends improved at Old Navy as customers responded favorably to their second Holiday product flows and their Black Friday promotional events,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations.

“However, promotional activity across the brands drove Gap Inc. merchandise margins significantly below those of November last year.”

Year-to-date net sales of $12.6 billion for the 43 weeks ended November 26, 2005 decreased 1 percent compared with net sales of $12.8 billion for the same period ended November 27, 2004.

The company's year-to-date comparable store sales decreased 5 percent compared with a 1 percent increase in the prior year.

As of November 29, 2005, Gap Inc operated 3,132 store locations compared with 3,069 store locations last year.

Gap Inc is committed to serving the needs of their Gap, Banana Republic, Old Navy and Forth & Towne customers while delivering quality earnings and long-term value to their shareholders.

Gap Inc

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