US: Gap books 5% December comparable sales growth
Specialty clothing retailer Gap Inc has today (3 January) booked a 5% rise in December comparable store sales, helped by gains at its North American brands.
Net sales were up 5% to US$2.08bn during the five weeks to 29 December, compared to $1.98bn the same period a year ago.
The San Francisco-based retailer said comparable sales were up at all of its North American brands, with Gap posting 2% sales growth, Banana Republic recording a 1% gain, while Old Navy jumped 13%.
However, international comparable sales slipped 6% on top of a 6% decline last year.
"Customers responded favourably to our product offerings and promotions during the holiday season overall," said chairman and CEO Glenn Murphy. "We're pleased to continue delivering positive comps across all our brands in North America."
Year-to-date net sales increased 6% to $14.52bn, compared to $13.72bn the year before. Comparable sales climbed 4% against a 4% decline last year.
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