Specialty clothing retailer Gap Inc has reaffirmed its full-year earnings guidance even though its same-store sales fell by 3% in December.

Net sales in the five-week period to 1 January 2011 were flat at $2.0bn compared with last year, the San Francisco based firm said today (6 January).

“After a strong start to the holiday season in November, sales and traffic trends for our brands were less consistent in December,” explained Sabrina Simmons, chief financial officer.

“For the full year, we are reaffirming our previous guidance of $1.77 to $1.82 per share, which represents annual earnings per share growth of 12% to 15%.”

By division, same-store sales at Gap North America fell 8% in December, Old Navy North America dropped 2% and Banana Republic North America rose by 1%. The retailer’s international sales were down by 4%.