Gap Inc. (NYSE: GPS) today reported that December 2012 net sales increased 5 percent compared with last year.
Net sales for the five-week period ended December 29, 2012 were $2.08 billion compared with net sales of $1.98 billion for the five-week period ended December 31, 2011. The company’s comparable sales for December 2012 were up 5 percent compared with a 4 percent decrease for December 2011.
“Customers responded favorably to our product offerings and promotions during the holiday season overall,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “We’re pleased to continue delivering positive comps across all our brands in North America.”
Comparable sales for December 2012 were as follows:
- Gap North America: positive 2 percent versus negative 4 percent last year
- Banana Republic North America: positive 1 percent versus negative 2 percent last year
- Old Navy North America: positive 13 percent versus negative 4 percent last year
- International: negative 6 percent versus negative 6 percent last year
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