September 2008
Gap Inc. (NYSE: GPS) today reported net sales of $1.14 billion for the four-week period ended August 30, 2008, which is a decrease of 5 percent as compared with net sales of $1.20 billion for the same period ended September 1, 2007. The company’s comparable store sales for August 2008 decreased 8 percent compared with a 1 percent decrease for August 2007.
Comparable store sales by division for August 2008 were as follows:
“Consistent with our strategy, we are pleased that we delivered merchandise margins above last year,” said Sabrina Simmons, chief financial officer of Gap Inc. “Moving forward, each division remains focused on executing product and store strategies for fall.”
Year-to-date net sales were $8.02 billion for the thirty weeks ended August 30, 2008, a decrease of 5 percent compared with net sales of $8.43 billion for the thirty weeks ended September 1, 2007. The company’s year-to-date comparable store sales decreased 10 percent compared with a 4 percent decrease last year.
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