US: Gap same-store sales up 3% in February
By just-style.com | 4 March 2010
Gap Inc has posted a 3% rise in February same-store sales, which the specialty clothing retailer says is proof it’s goal to improve the top line is gaining traction.
“We’re pleased that we increased our sales in February, delivering a positive comp with merchandise margins significantly above last year,” said Sabrina Simmons, chief financial officer of Gap Inc.
Net sales were up 5% to $838m for the four weeks to 27 February, compared with $795m in the same month last year.
The 3% rise in same-store sales compares with a 12% decrease in February last year.
By division, same-store sales were flat at Gap North America, up 6% at Banana Republic North America, and up 5% at Old Navy North America. International comps were flat with last year.
Sectors: Apparel, Finance, Retail
Companies: Gap Inc
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US: Gap same-store sales up 3% in February
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