Gap Inc. (NYSE: GPS) today reported that September 2013 net sales were flat compared with last year. Net sales for the five-week period ended October 5, 2013 were $1.46 billion compared with net sales of $1.45 billion for the five-week period ended September 29, 2012.
“While September proved to be somewhat challenging, we remain steadfast in our commitment to deliver on our full-year goals,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.
Due to the 53 rd week in fiscal year 2012, September 2013 comparable sales are compared to the five-week period ended October 6, 2012. On this basis, Gap Inc.’s comparable sales for September 2013 were down 3 percent versus a 6 percent increase for September 2012.
Comparable sales by global brand for September 2013 were as follows:
- Gap Global: negative 3 percent versus positive 3 percent last year
- Banana Republic Global: negative 5 percent versus positive 4 percent last year
- Old Navy Global: negative 2 percent versus positive 10 percent last year