US: Gap posts 3% November comparable sales growth
By Katie Smith | 29 November 2012
Specialty clothing retailer Gap Inc has today (29 November) seen its November comparable store sales increase 3% on the back of gains at its international and North American brands.
Net sales were also up 3% to $1.52bn during the four-week period to 24 November, compared to $1.47bn the year before.
The San-Francisco-based retailer said comparable sales were up at all of its North American brands, with Gap reporting 5% sales growth, Banana Republic booking a 3% rise, while Old Navy posted a 1% gain. International comparable sales increased 3% compared to a 9% decline the same month last year.
"Customers continue to respond positively to our product this year, enabling us to deliver consistent comp sales growth in North America," said chairman and CEO Glenn Murphy. "As we head into the thick of the holiday selling season, we're confident and ready to compete across all our brands and channels."
Year-to-date net sales rose 6% to $11.73bn in November, compared to $11.73bn the prior year. Comparable sales climbed 4%, up against a 3% increase last year.
Sectors: Apparel, Finance, Retail
Companies: Gap Inc
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