Gap Inc. Reports November Sales

  Gap Inc. Reports November Sales

Business Wire

SAN FRANCISCO -- November 29, 2012

Gap Inc. (NYSE: GPS) today reported that November 2012 net sales increased 3
percent compared with last year.

Net sales for the four-week period ended November 24, 2012 were $1.52 billion
compared with net sales of $1.47 billion for the four-week period ended
November 26, 2011. The company’s comparable sales for November 2012 were up 3
percent compared with a 5 percent decrease for November 2011.

“Customers continue to respond positively to our product this year, enabling
us to deliver consistent comp sales growth in North America,” said Glenn
Murphy, chairman and chief executive officer of Gap Inc. “As we head into the
thick of the holiday selling season, we’re confident and ready to compete
across all our brands and channels.”

Comparable sales for November 2012 were as follows:

  *Gap North America: positive 5 percent versus negative 2 percent last year
  *Banana Republic North America: positive 3 percent versus flat last year
  *Old Navy North America: positive 1 percent versus negative 7 percent last
    year
  *International: positive 3 percent versus negative 9 percent last year

Year-to-date net sales were $12.44 billion for the 43 weeks ended November 24,
2012, an increase of 6 percent compared with net sales of $11.73 billion for
the 43 weeks ended November 26, 2011. The company’s year-to-date comparable
sales increased 4 percent compared with a 3 percent decrease last year.

December Sales

The company will report December sales on January 3, 2013.

About Gap Inc.

Gap Inc. is a leading global specialty retailer offering clothing,
accessories, and personal care products for men, women, children, and babies
under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta brands.
Fiscal 2011 net sales were $14.5 billion. Gap Inc. products are available for
purchase in about 90 countries worldwide through about 3,000 company-operated
stores, about 250 franchise stores, and e-commerce sites. For more
information, please visit www.gapinc.com.

Contact:

Gap Inc.
Investor Relations:
Mike Jenkins, 415-427-4454
investor_relations@gap.com
Media Relations:
Emily Russel, 415-427-6230
press@gap.com
 
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