Gap Inc. (NYSE: GPS) today reported that June 2013 net sales increased 8 percent compared with last year.
Net sales for the five-week period ended July 6, 2013 were $1.53 billion compared with net sales of $1.41 billion for the five-week period ended June 30, 2012.
"We are pleased with our June sales results," said Glenn Murphy, chairman and chief executive officer of Gap Inc. "Old Navy's performance was particularly strong."
Due to the 53 rd week in fiscal year 2012, June 2013 comparable sales are compared to the five-week period ended July 7, 2012. On this basis, Gap Inc.’s comparable sales for June 2013 were up 7 percent versus flat for June 2012.Comparable sales by global brand for June 2013 were as follows:
- Gap Global: positive 5 percent versus negative 3 percent last year
- Banana Republic Global: negative 1 percent versus positive 4 percent last year
- Old Navy Global: positive 13 percent versus positive 1 percent last year