US: Gap comparable sales rise 10% in July, Q2 sales up
- Comparable sales up 10% in July
- Net sales increase 12%
- Q2 sales up 6% to $3.58bn
Clothing retailer Gap Inc today (2 August) saw July comparable sales increase 10%, which were driven by the company's positive performance in North America.
Net sales for the four-week period ended 28 July increased 12% to US$1.06bn.
The San Francisco-based retailer recorded a 13% rise in its North American business, compared to a negative performance last year. Sales for its Banana Republic and Old Navy brands in North America sales increased 8% and 12% respectively.
International sales climbed 4%, compared to a 10% decline the same period last year.
Meanwhile, net sales for the second quarter increased 6% to $3.58bn, while comparable sales climbed 4% compared to a 2% fall the same period last year.
Gap's North American division saw sales increase 7%, while Banana Republic sales were up 7% and Old Navy sales climbed 3%. However, international declined 5% compared to a 4% decrease last year.
Chairman and CEO Glenn Murphy said: "We are pleased with our second quarter sales performance and the continued positive trend we're experiencing in North America."
Year-to-date sales increased 6% to $7.06bn, while year-to-date comparable sales climbed 4%, compared to a 2% fall last year.
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