To be a world class organization
2012.10.05
The Gap’s September Same-Store Sales Rise a Better-than-Expected 6%

Gap Inc 's ( GPS ), comparable store sales climbed 6% in September 2012 (five-week period ended September 29, 2012) versus a 4% decline in the comparable prior-year period. Moreover, net sales in September totaled $1.45 billion, up 7.4% compared with the prior-year period sales of $1.35 billion.

The rise in comps reflects the company's focus on delivering trend-right products to customers, as well as a solid store execution. During the period, the company registered strong demand for its products across all brands.

August comps at Gap North America increased 5% against a 4% decline recorded in the prior-year period. Banana Republic North America's same-store sales were up 4% versus a 1% dip recorded in September last year. Results at its Old Navy North America segment reflected a robust 10% rise in comps compared with a 1% fall in the prior-year period. On the flip side, comps at the International business declined 3% in September, but were comparatively better than the 13% decline recorded in the prior-year period.

Year-to-date through September 29, 2012, the company's net sales increased 6% to $9.71 billion compared with $9.12 billion in the prior-year period. Improvements in net sales were primarily driven by 5% growth in the company's comps figure.