Gap Inc. Reports February Sales
SAN FRANCISCO -- March 7, 2013
Gap Inc. (NYSE: GPS) today reported that February 2013 net sales increased 11
percent compared with last year.
Net sales for the four-week period ended March 2, 2013 were $966 million
compared with net sales of $874 million for the four-week period ended
February 25, 2012. Due to the 53^rd week in fiscal year 2012, February 2013
comparable sales are compared to the four-week period ended March 3, 2012. On
this basis, the company’s comparable sales for February 2013 were up 3 percent
compared with a 4 percent increase for February 2012.
"Building on our successful 2012 performance, we’re pleased with the company’s
overall sales results in February," said Glenn Murphy, chairman and chief
executive officer of Gap Inc.
Comparable sales by global brand for February 2013 were as follows:
*Gap Global: positive 2 percent versus negative 2 percent last year
*Banana Republic Global: negative 5 percent versus positive 11 percent last
*Old Navy Global: positive 6 percent versus positive 5 percent last year
The fiscal year 2012 and fiscal year 2011 historical comparable sales results
in the new global format can be accessed at www.gapinc.com.
The company noted that the difference between its 3 percent comparable sales
increase and the 11 percent net sales growth is primarily attributable to the
calendar shift of weeks in fiscal February 2013 versus fiscal 2012, as well as
to incremental sales from the company’s growth initiatives, including
Beginning this month, additional insight into Gap Inc.’s sales performance can
be obtained by calling 1-800-GAP-NEWS (1-800-427-6397). International callers
may call 706-902-4949. The recording will be available at approximately 1:00
p.m. Pacific Time on March 7, 2013 and available for replay until 1:00 p.m.
Pacific Time on March 15, 2013.
The company will report March sales on April 11, 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, Athleta, and Intermix
brands. Fiscal year 2012 net sales were $15.7 billion. Gap Inc. products are
available for purchase in more than 90 countries worldwide through about 3,100
company-operated stores, over 300 franchise stores, and e-commerce sites. For
more information, please visit www.gapinc.com.
Katrina O'Connell, 415-427-2832 (Investor Relations)
Stacy Rollo, 415-427-3543 (Media Relations)
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