Gap Inc. (NYSE: GPS) today reported that November 2012 net sales increased 3 percent compared with last year.
Net sales for the four-week period ended November 24, 2012 were $1.52 billion compared with net sales of $1.47 billion for the four-week period ended November 26, 2011. The company’s comparable sales for November 2012 were up 3 percent compared with a 5 percent decrease for November 2011.
“Customers continue to respond positively to our product this year, enabling us to deliver consistent comp sales growth in North America,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “As we head into the thick of the holiday selling season, we’re confident and ready to compete across all our brands and channels.”
Comparable sales for November 2012 were as follows:
- Gap North America: positive 5 percent versus negative 2 percent last year
- Banana Republic North America: positive 3 percent versus flat last year
- Old Navy North America: positive 1 percent versus negative 7 percent last year
- International: positive 3 percent versus negative 9 percent last year