- In North America, Gap, Banana Republic, and Old Navy each delivered positive comparable sales for the third consecutive quarter.
- Total net sales for the Gap Inc. Direct division increased 23 percent to $509 million compared with $414 million last year, and the company launched e-commerce in Japan.
- Net sales outside of the U.S. and Canada (including Gap Inc. Direct and Franchise) increased 7 percent, and the company opened its first Gap Outlet store in China in September.
- The company opened 8 Athleta stores in the quarter, toward its goal of about 50 stores by the end of 2013.
- The company announced a transition to a global brand management structure to support long-term growth.
- Gap Foundation celebrated its 35th anniversary and, in November, Gap Inc. announced a donation of more than $1 million to aid recovery efforts following Hurricane Sandy.
- Gap North America: positive 7 percent versus negative 6 percent last year
- Banana Republic North America: positive 6 percent versus negative 1 percent last year
- Old Navy North America: positive 9 percent versus negative 4 percent last year
- International: negative 3 percent versus negative 10 percent last year
|($ in millions) Quarter Ended October 27, 2012||Gap||Old Navy||Banana Republic||Franchise (3)||Piperlime and Athleta||Total (4)||Percentage of Net Sales|
|Total Stores reportable segment||1,341||1,304||620||90||-||3,355||87|
|Direct reportable segment (2)||146||210||64||-||89||509||13|
|($ in millions) Quarter Ended October 29, 2011||Gap||Old Navy||Banana Republic||Franchise (3)||Piperlime and Athleta||Total (4)||Percentage of Net Sales|
|Total Stores reportable segment||1,298||1,205||587||81||-||3,171||88|
|Direct reportable segment (2)||121||178||47||-||68||414||12|