This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Gap Inc. Reports January Sales And Strong Fourth Quarter Results

Gap Inc. (NYSE: GPS) today reported that January 2013 net sales for the five-week period ended February 2, 2013 were $1.13 billion compared with net sales of $833 million for the four-week period ended January 28, 2012. The company’s comparable sales for January 2013 were up 8 percent compared with a 4 percent decrease for January 2012.

In addition, the company reported that net sales for the fourth quarter of fiscal year 2012, which ended February 2, 2013, were $4.73 billion compared with $4.28 billion for the fourth quarter last year. The company’s comparable sales for the fourth quarter of fiscal year 2012 were up 5 percent compared with a 4 percent decrease in the fourth quarter last year.

The company noted that fiscal year 2012 had 53 weeks versus 52 weeks in fiscal year 2011. As a result, net sales for January 2013, the fourth quarter of fiscal year 2012, and fiscal year 2012 include the additional week, while comparable sales exclude the 53 rd week.

“We’re pleased with the continued momentum in the business across all our brands in North America,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “As we transition to 2013, our focus remains on delivering compelling product in order to sustain our positive sales performance.”

January Comparable Sales Results

Comparable sales for January 2013 were as follows:

  • Gap North America: positive 8 percent versus negative 5 percent last year
  • Banana Republic North America: positive 8 percent versus positive 6 percent last year
  • Old Navy North America: positive 12 percent versus negative 6 percent last year
  • International: positive 1 percent versus negative 10 percent last year

Fourth Quarter Comparable Sales Results

Comparable sales for the fourth quarter of fiscal year 2012 were as follows:

  • Gap North America: positive 4 percent versus negative 3 percent last year
  • Banana Republic North America: positive 3 percent versus flat last year
  • Old Navy North America: positive 8 percent versus negative 6 percent last year
  • International: negative 2 percent versus negative 8 percent last year

Fourth Quarter Guidance

The company announced diluted earnings per share guidance for the fourth quarter of fiscal year 2012 to be in the range of $0.70 to $0.71. In addition, the company now expects year-end inventory dollars per store to be slightly above previous guidance driven by higher in-transit inventory given the earlier Easter holiday in 2013.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs