Gap Inc. (NYSE: GPS) today reported that August 2013 net sales increased 3 percent compared with last year. Net sales for the four-week period ended August 31, 2013 were $1.23 billion compared with net sales of $1.20 billion for the four-week period ended August 25, 2012.
“We continue to meet our goal of driving consistent positive comp sales growth, on top of last year’s strong performance,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.
Due to the 53 rd week in fiscal year 2012, August 2013 comparable sales are compared to the four-week period ended September 1, 2012. On this basis, Gap Inc.’s comparable sales for August 2013 were up 2 percent versus a 9 percent increase for August 2012.
Comparable sales by global brand for August 2013 were as follows:
- Gap Global: positive 2 percent versus positive 6 percent last year
- Banana Republic Global: positive 2 percent versus positive 8 percent last year
- Old Navy Global: positive 1 percent versus positive 12 percent last year