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This excerpt taken from the GPS 8-K filed Sep 6, 2007. COMPARABLE STORE SALES DOWN 1 PERCENT SAN FRANCISCO – September 6, 2007 – Gap Inc. (NYSE: GPS) today reported net sales of $1.20 billion for the four-week period ended September 1, 2007, which represents a 4 percent increase compared with net sales of $1.15 billion for the same period ended August 26, 2006. Due to the 53rd week in fiscal year 2006, August 2007 comparable store sales are compared to the four-week period ended September 2, 2006. On this basis, the company’s comparable store sales for August 2007 decreased 1 percent compared with a 7 percent decrease as reported in August 2006. Comparable store sales by division for August 2007 were as follows:
“Although merchandise margins were below last year, we’re pleased with the progress we’re making across our brands,” said Sabrina Simmons, executive vice president of Gap Inc. finance. Year-to-date net sales of $8.43 billion for the 30 weeks ended September 1, 2007, increased 2 percent compared with net sales of $8.30 billion for the 30 weeks ended August 26, 2006. Due to the 53rd week in fiscal year 2006, fiscal year 2007 year-to-date comparable store sales are compared to the 30 week period ended September 2, 2006. On this basis, the company’s year-to-date comparable store sales decreased 4 percent compared with a 7 percent decrease as reported in the prior year. For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421. This excerpt taken from the GPS 8-K filed Aug 9, 2007. COMPARABLE STORE SALES DOWN 7 PERCENT SAN FRANCISCO – August 9, 2007 – Gap Inc. (NYSE: GPS) today reported net sales of $1.054 billion for the four-week period ended August 4, 2007, which is an increase of 1 percent compared to net sales of $1.047 billion for the four-week period ended July 29, 2006. Due to the 53rd week in fiscal year 2006, July 2007 comparable store sales are compared to the four-week period ended August 5, 2006. On this basis, the company’s comparable store sales for July 2007 decreased 7 percent compared with a 4 percent decrease as reported in July 2006. Comparable store sales by division for July 2007 were as follows:
“During July, we cleared through summer product at all three brands and total company merchandise margins were significantly above last year,” said Sabrina Simmons, senior vice president, corporate finance at Gap Inc. “However, sales at Old Navy were negatively impacted since we did not repeat two sales events, and fall product that was pulled forward into July did not resonate as customers remained focused on ‘wear now’ apparel.” This excerpt taken from the GPS 8-K filed Jul 12, 2007. COMPARABLE STORE SALES DOWN 5 PERCENT SAN FRANCISCO – July 12, 2007 – Gap Inc. (NYSE: GPS) today reported net sales of $1.45 billion for the five-week period ended July 7, 2007, which represents a 4 percent decrease compared with net sales of $1.51 billion for the five-week period ended July 1, 2006. Due to the 53rd week in fiscal year 2006, June 2007 comparable store sales are compared to the five-week period ended July 8, 2006. On this basis, the company’s comparable store sales for June 2007 decreased 5 percent compared with a 6 percent decrease in June 2006. Comparable store sales by division for June 2007 were as follows:
“June was a transitional month as all of our brands made progress clearing through summer merchandise,” said Sabrina Simmons, senior vice president, corporate finance at Gap Inc. “Our total company merchandise margins were in line with last year.” Year-to-date net sales of $6.20 billion for the 22 weeks ended July 7, 2007, increased 1 percent compared with net sales of $6.11 billion for the 22 weeks ended July 1, 2006. Due to the 53rd week in fiscal year 2006, fiscal year 2007 year-to-date comparable store sales are compared to the 22 week period ended July 8, 2006. On this basis, the company’s year-to-date comparable store sales decreased 4 percent, compared with an 8 percent decrease in the prior year. As of July 7, 2007, Gap Inc. operated 3,140 store locations compared with 3,080 store locations on July 1, 2006. For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421. This excerpt taken from the GPS 8-K filed Jun 7, 2007. COMPARABLE STORE SALES DOWN 3 PERCENT SAN FRANCISCO – June 7, 2007 – Gap Inc. (NYSE: GPS) today reported net sales of $1.19 billion for the four-week period ended June 2, 2007, which represents a 2 percent increase compared with net sales of $1.16 billion for the four-week period ended May 27, 2006. Due to the 53rd week in fiscal year 2006, May 2007 comparable store sales are compared to the four-week period ended June 3, 2006. The company’s comparable store sales for May 2007 decreased 3 percent compared with a 6 percent decrease as reported for May 2006. Comparable store sales by division for May 2007 were as follows:
“In May, our overall summer merchandise sales remained mixed across the brands, and total company merchandise margins were above last year,” said Sabrina Simmons, senior vice president, corporate finance at Gap Inc. Year-to-date net sales of $4.75 billion for the 17 weeks ended June 2, 2007, increased 3 percent compared with net sales of $4.61 billion for the 17 weeks ended May 27, 2006. Due to the 53rd week in fiscal year 2006, fiscal year 2007 year-to-date comparable store sales are compared with the 17 weeks ended June 3, 2006. The company’s year-to-date comparable store sales decreased 4 percent compared with an 8 percent decrease as reported in the prior year. As of June 2, 2007, Gap Inc. operated 3,145 store locations compared with 3,070 store locations last year. For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421. This excerpt taken from the GPS 8-K filed May 10, 2007. COMPARABLE STORE SALES DOWN 16 PERCENT SAN FRANCISCO – May 10, 2007 – Gap Inc. (NYSE: GPS) today reported net sales of $1.09 billion for the four-week period ended May 5, 2007, which represents an 11 percent decrease compared with net sales of $1.23 billion for the four-week period ended April 29, 2006. Due to the 53rd week in fiscal year 2006, April 2007 comparable store sales are compared to the four-week period ended May 6, 2006. The company’s comparable store sales for April 2007 decreased 16 percent compared with a 3 percent decrease as reported for April 2006. Comparable store sales by division for April 2007 were as follows:
“Driven by the shift of Easter, our April results deteriorated as compared to March. In addition, our merchandise margins were significantly below last year largely because of clearance selling at Gap brand,” said Sabrina Simmons, senior vice president, corporate finance at Gap Inc. “That said, our overall comparable stores sales for the quarter taken as a whole were negative four compared to negative nine last year. Our management team remains committed to making the changes necessary to improve our performance going forward.” This excerpt taken from the GPS 8-K filed Mar 8, 2007. COMPARABLE STORE SALES DOWN 4 PERCENT SAN FRANCISCO – March 8, 2007 – Gap Inc. (NYSE: GPS) today reported net sales of $910 million for the four-week period ended March 3, 2007, which represents a 5 percent increase compared with net sales of $865 million for the four-week period ended February 25, 2006. Due to the 53rd week in fiscal year 2006, February 2007 comparable store sales are compared to the four-week period ended March 4, 2006. On this basis, the company’s comparable store sales decreased 4 percent, compared to a decrease of 11 percent as reported for February 2006. Comparable store sales by division for February 2007 were as follows:
“During February, Banana Republic customers continued to respond to the brand’s product assortments and accessories, and in particular the men’s collection performed well,” said Sabrina Simmons, senior vice president of corporate finance at Gap Inc. “As expected, results at Gap and Old Navy continued to be challenging, though the kids business performed stronger than the adult business at both brands.” As of March 3, 2007, Gap Inc. operated 3,135 store locations compared with 3,053 store locations on February 25, 2006. For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421. This excerpt taken from the GPS 8-K filed Nov 30, 2006. COMPARABLE STORE SALES DOWN 8 PERCENT SAN FRANCISCO – November 30, 2006 – Gap Inc. (NYSE: GPS) today reported net sales of $1.40 billion for the four-week period ended November 25, 2006, which represents a 2 percent decrease compared with net sales of $1.43 billion for the same period ended November 26, 2005. The company’s comparable store sales for November 2006 decreased 8 percent compared with a 4 percent decrease in November 2005. Comparable store sales by division for November 2006 were as follows:
“Overall, November was a challenging month as negative traffic trends persisted,” said Sabrina Simmons, senior vice president, corporate finance, Gap Inc. “Promotional and markdown activities at Gap and Old Navy drove total company merchandise margins below last year, and we expect pressure on merchandise margins to continue into December.” Year-to-date net sales of $12.41 billion for the 43 weeks ended November 25, 2006, decreased 2 percent compared with net sales of $12.63 billion for the same period ended November 26, 2005. The company’s year-to-date comparable store sales decreased 7 percent compared with a 5 percent decrease in the prior year. The company reiterated that it expects inventory per square foot at the end of the fourth quarter to be up in the low-single digits compared with the prior year. As of November 25, 2006, Gap Inc. operated 3,188 store locations compared with 3,132 store locations last year. For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421. This excerpt taken from the GPS 8-K filed Oct 6, 2006. COMPARABLE STORE SALES DOWN 3 PERCENT SAN FRANCISCO – October 5, 2006 – Gap Inc. (NYSE: GPS) today reported net sales of $1.46 billion for the five-week period ended September 30, 2006, which represents a 4 percent increase compared with net sales of $1.41 billion for the same period ended October 1, 2005. The company’s comparable store sales for September 2006 decreased 3 percent compared with a 6 percent decrease in September 2005. Comparable store sales by division for September 2006 were as follows:
“We’re encouraged with our progress at all three core brands,” said Sabrina Simmons, senior vice president, treasury and investor relations at Gap Inc. “Not only are comparable store sales results improved versus last month, but our overall merchandise margins are above last year as well. Gap and Old Navy marketing strategies helped to support improved store traffic in September, most notably with the Audrey Hepburn skinny black pant campaign. As we expected, we’re seeing continued improvements in Banana Republic where customers responded well to fall product.” “We’re excited to introduce the Gap PRODUCT RED collection in stores in mid-October,” said Simmons. “This initiative, founded by Bobby Shriver and Bono, will raise awareness and money for the Global Fund to help women and children affected by AIDS in Africa. The launch will be supported by a comprehensive marketing campaign.” Year-to-date net sales of $9.77 billion for the 35 weeks ended September 30, 2006, decreased 2 percent compared with net sales of $9.92 billion for the same period ended October 1, 2005. The company’s year-to-date comparable store sales decreased 7 percent compared with a 5 percent decrease in the prior year. As of September 30, 2006, Gap Inc. operated 3,117 store locations compared with 3,082 store locations last year. This excerpt taken from the GPS 8-K filed Aug 31, 2006. COMPARABLE STORE SALES DOWN 7 PERCENT SAN FRANCISCO – August 31, 2006 – Gap Inc. (NYSE: GPS) today reported net sales of $1.15 billion for the four-week period ended August 26, 2006, which represents a 2 percent decrease compared with net sales of $1.17 billion for the same period ended August 27, 2005. The company’s comparable store sales for August 2006 decreased 7 percent compared with a 9 percent decrease in August 2005. Comparable store sales by division for August 2006 were as follows:
“While we are pleased by our progress at Banana Republic and by total company merchandise margins that were above last year, August results at Gap and Old Navy were disappointing,” said Sabrina Simmons, senior vice president, treasury and investor relations at Gap Inc. Year-to-date net sales of $8.30 billion for the 30 weeks ended August 26, 2006, decreased 2 percent compared with net sales of $8.51 billion for the same period ended August 27, 2005. The company’s year-to-date comparable store sales decreased 7 percent compared with a 5 percent decrease in the prior year. The company reiterated that it expects inventory per square foot at the end of the third quarter to be flat compared to the prior year. As of August 26, 2006, Gap Inc. operated 3,100 store locations compared with 3,050 store locations last year. For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 1-706-634-4421. This excerpt taken from the GPS 8-K filed Jul 6, 2006. COMPARABLE STORE SALES DOWN 6 PERCENT SAN FRANCISCO – July 6, 2006 – Gap Inc. (NYSE: GPS) today reported net sales of $1.51 billion for the five-week period ended July 1, 2006, which represents a 1 percent decrease compared with net sales of $1.52 billion for the same period ended July 2, 2005. The company’s comparable store sales for June 2006 decreased 6 percent compared with flat comparable store sales in June 2005. Comparable store sales by division for June 2006 were as follows:
“June was a transitional month as all of our brands worked to clear summer merchandise, and as we expected our merchandise margins continued to be significantly below last year,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations. “We expect that merchandise margins will continue to experience pressure in July as we clear remaining summer items for the arrival of fall merchandise late this month.” Year-to-date net sales of $6.1 billion for the 22 weeks ended July 1, 2006, decreased 3 percent compared with net sales of $6.3 billion for the same period ended July 2, 2005. The company’s year-to-date comparable store sales decreased 8 percent compared with a 4 percent decrease in the prior year. The company reiterated that it expects inventory per square foot at the end of the second quarter to be flat compared to the prior year. As of July 1, 2006, Gap Inc. operated 3,080 store locations compared with 3,024 store locations last year. For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421. This excerpt taken from the GPS 8-K filed Jun 1, 2006. COMPARABLE STORE SALES DOWN 6 PERCENT SAN FRANCISCO — June 1, 2006 — Gap Inc. (NYSE: GPS) today reported net sales of $1.16 billion for the four-week period ended May 27, 2006, flat to net sales of $1.17 billion for the same period ended May 28, 2005. The company’s comparable store sales for May 2006 decreased 6 percent compared with an 8 percent decrease in May 2005. Comparable store sales by division for May 2006 were as follows:
“In May, sales of summer product were disappointing and merchandise margins were significantly below last year,” said Sabrina Simmons, senior vice president, Treasury and Investor Relations. “As we continue to move through spring and summer product, we expect that merchandise margins will experience pressure until we transition to fall product in late July.” Year-to-date net sales of $4.6 billion for the 17 weeks ended May 27, 2006, decreased 4 percent compared with net sales of $4.8 billion for the same period ended May 28, 2005. The company’s year-to-date comparable store sales decreased 8 percent compared with a 5 percent decrease in the prior year. As of May 27, 2006, Gap Inc. operated 3,070 store locations compared with 3,019 store locations last year. For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421. Gap Inc. will announce June sales on July 6, 2006. This excerpt taken from the GPS 8-K filed Apr 6, 2006. COMPARABLE STORE SALES DOWN 13 PERCENT SAN FRANCISCO – April 6, 2006 – Gap Inc. (NYSE: GPS) today reported net sales of $1.35 billion for the five-week period ended April 1, 2006, which represents a 9 percent decrease compared with net sales of $1.47 billion for the same period ended April 2, 2005. The company’s comparable store sales for March 2006 decreased 13 percent compared with a 4 percent decrease in March 2005. Comparable store sales by division for March 2006 were as follows:
“Our March performance reflects the challenges we face to increase the frequency of customer visits to our stores,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations. “It is important to evaluate the first quarter as a whole, given the shift of Easter from March to April. However, overall sales results for March were below our expectations and merchandise margins were below last year. Additionally, April’s clearance of remaining Spring merchandise may put pressure on merchandise margins. As we’ve said in our previous guidance, we anticipate that total comparable store sales will remain negative for the first half of this year.” Year-to-date net sales of $2.21 billion for the nine weeks ended April 1, 2006, decreased 8 percent compared with net sales of $2.40 billion for the same period ended April 2, 2005. The company’s year-to-date comparable store sales decreased 12 percent, compared with a 4 percent decrease in the prior year. As of April 1, 2006, Gap Inc. operated 3,061 store locations compared with 3,005 store locations last year. For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421. This excerpt taken from the GPS 8-K filed Mar 2, 2006. COMPARABLE STORE SALES DOWN 11 PERCENT SAN FRANCISCO – March 2, 2006 – Gap Inc. (NYSE: GPS) today reported net sales of $865 million for the four-week period ended February 25, 2006, which represents a 6 percent decrease compared with net sales of $922 million for the same period ended February 26, 2005. The company’s comparable store sales for February 2006 decreased 11 percent compared with a 3 percent decrease in February 2005. Comparable store sales by division for February 2006 were as follows:
“In February, traffic worsened versus fourth quarter trends, which caused lower unit sales velocity. This led to significantly lower merchandise margins,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations. “Looking ahead, we are focused on driving traffic with improved product and new marketing campaigns that begin this week.” As of February 25, 2006, Gap Inc. operated 3,053 store locations compared with 3,001 store locations last year. For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421. This excerpt taken from the GPS 8-K filed Jan 5, 2006. COMPARABLE STORE SALES DOWN 9 PERCENT
SAN FRANCISCO – January 5, 2006 – Gap Inc. (NYSE: GPS) today reported net sales of $2.4 billion for the five-week period ended December 31, 2005, which represents a 5 percent decrease compared with net sales of $2.6 billion for the same period ended January 1, 2005. The company’s comparable store sales for December 2005 decreased 9 percent compared with a 1 percent decrease in December 2004.
Comparable store sales by division for December 2005 were as follows:
“During December, traffic trends at all three brands continued to drive negative comparable store sales,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations. “However, we are pleased that fewer markdowns in the month resulted in merchandise margins slightly above those of last year.”
Year-to-date net sales of $15.1 billion for the 48 weeks ended December 31, 2005, decreased 2 percent compared with net sales of $15.4 billion for the same period ended January 1, 2005. The company’s year-to-date comparable store sales decreased 5 percent compared with a 1 percent increase in the prior year.
In addition, the company remains comfortable with the annual earnings per share guidance that it provided in its third quarter earnings release of $1.12 to $1.17, and through December, the company is trending to the upper-end of this range.
As of December 31, 2005, Gap Inc. operated 3,126 store locations compared with 3,049 store locations last year.
This excerpt taken from the GPS 8-K filed Dec 1, 2005. COMPARABLE STORE SALES DOWN 4 PERCENT
SAN FRANCISCO – December 1, 2005 – Gap Inc. (NYSE: GPS) today reported net sales of $1.4 billion for the four-week period ended November 26, 2005, compared with net sales of $1.4 billion for the same period ended November 27, 2004. The company’s comparable store sales for November 2005 decreased 4 percent compared with a 4 percent decrease in November 2004.
Comparable store sales by division for November 2005 were as follows:
“Although traffic remained challenging at Gap and Banana Republic in November, we were pleased that traffic trends improved at Old Navy as customers responded favorably to our second Holiday product flows and our Black Friday promotional events,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations. “However, promotional activity across the brands drove Gap Inc. merchandise margins significantly below those of November last year.”
Year-to-date net sales of $12.6 billion for the 43 weeks ended November 26, 2005 decreased 1 percent compared with net sales of $12.8 billion for the same period ended November 27, 2004. The company’s year-to-date comparable store sales decreased 5 percent compared with a 1 percent increase in the prior year.
As of November 29, 2005, Gap Inc. operated 3,132 store locations compared with 3,069 store locations last year.
For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421.
This excerpt taken from the GPS 8-K filed Oct 6, 2005. COMPARABLE STORE SALES DOWN 6 PERCENT
SAN FRANCISCO – October 6, 2005 – Gap Inc. (NYSE: GPS) today reported net sales of $1.41 billion for the five-week period ended October 1, 2005, which represents a 3 percent decrease compared with net sales of $1.45 billion for the same period ended October 2, 2004. The company’s comparable store sales for September 2005 decreased 6 percent compared with a 3 percent decrease in September 2004.
Comparable store sales by division for September 2005 were as follows:
“September sales results were very disappointing as we faced continued challenges with traffic and product performance across all brands,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations.
Commenting on September business, Simmons added, “Due to the significant miss in unit sales, merchandise margins through September are trending substantially below last year and we expect increased margin pressure in October as we work to clear product.”
Year-to-date net sales of $9.9 billion for the 35 weeks ended October 1, 2005, decreased 1 percent compared with net sales of $10.1 billion for the same period ended October 2, 2004. The company’s year-to-date comparable store sales decreased 5 percent compared with a 2 percent increase in the prior year.
As of October 1, 2005, Gap Inc. operated 3,082 store locations compared with 3,038 store locations last year.
For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421.
This excerpt taken from the GPS 8-K filed Sep 1, 2005. COMPARABLE STORE SALES DOWN 9 PERCENT
SAN FRANCISCO — September 1, 2005 — Gap Inc. (NYSE: GPS) today reported net sales of $1.17 billion for the four-week period ended August 27, 2005, which represents a 5 percent decrease compared with net sales of $1.23 billion for the same period ended August 28, 2004. The company’s comparable store sales for August 2005 decreased 9 percent compared with a 1 percent decrease in August 2004.
Comparable store sales by division for August 2005 were as follows:
“The negative trends that we discussed on our second quarter earnings call continued and as such, August sales results were disappointing and merchandise margins were slightly below last year,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations.
Year-to-date net sales of $8.5 billion for the thirty weeks ended August 25, 2005, decreased 1 percent compared with net sales of $8.6 billion for the same period ended August 28, 2004. The company’s year-to-date comparable store sales decreased 5 percent compared with a 3 percent increase in the prior year.
As of August 25, 2005, Gap Inc. operated 3,050 store locations compared with 3,016 store locations last year.
For more detailed information, please call 800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421.
This excerpt taken from the GPS 8-K filed Aug 4, 2005. COMPARABLE STORE SALES DOWN 4 PERCENT
Company Expects to Report Second Quarter Earnings Per Share of $0.28 to $0.29
SAN FRANCISCO — August 4, 2005 — Gap Inc. (NYSE: GPS) today reported net sales of $1.04 billion for the four-week period ended July 30, 2005, compared with net sales of $1.04 billion for the same period ended July 31, 2004. The company’s comparable store sales for July 2005 decreased 4 percent compared with a 5 percent decrease in July 2004.
Comparable store sales by division for July 2005 were as follows:
Gap North America: negative 8 percent versus negative 3 percent last year
Banana Republic North America: positive 7 percent versus negative 10 percent last year
Old Navy North America: negative 5 percent versus negative 2 percent last year
International: positive 4 percent versus negative 14 percent last year
“July was a transitional month as our brands continued to clear summer merchandise. Overall, results for July were disappointing and given the promotional activity, merchandise margins were below last year,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations.
This excerpt taken from the GPS 8-K filed Jun 2, 2005. COMPARABLE STORE SALES DOWN 8 PERCENT
SAN FRANCISCO — June 2, 2005 — Gap Inc. (NYSE: GPS) today reported net sales of $1.17 billion for the four-week period ended May 28, 2005, which represents a 3 percent decrease compared with net sales of $1.21 billion for the same period ended May 29, 2004. The company’s comparable store sales for May 2005 decreased 8 percent compared with a 6 percent increase in May 2004.
Comparable store sales by division for May 2005 were as follows:
“Overall, total company sales were disappointing in May and merchandise margins were meaningfully below last year,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations. “As we continue to move through summer product, we expect to experience significant pressure on merchandise margins until we transition to fall product in late July and August.”
Year-to-date net sales of $4.8 billion for the 17 weeks ended May 28, 2005, decreased 2 percent compared with net sales of $4.9 billion for the same period ended May 29, 2004. The company’s year-to-date comparable store sales decreased 5 percent compared with a 7 percent increase in the prior year.
The company reiterated that it expects earnings per share of $1.44 to $1.48 for the full year 2005, with the vast majority of the expected growth coming from previously-discussed non-operating levers such as reduced interest expense and reduced share count.
As of May 28, 2005, Gap Inc. operated 3,019 store locations compared with 3,011 store locations last year.
For more detailed information, please call 800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421.
This excerpt taken from the GPS 8-K filed Mar 3, 2005. COMPARABLE STORE SALES DOWN 3 PERCENT
SAN FRANCISCO – March 3, 2005 — Gap Inc. (NYSE: GPS) today reported net sales of $924 million for the four-week period ended February 26, 2005, which are flat compared with net sales of $925 million for the same period ended February 28, 2004. The company’s comparable store sales for February 2005 decreased 3 percent compared with a 12 percent increase in February 2004.
Comparable store sales by division for February 2005 were as follows:
“We were pleased with improved year over year total company merchandise margins, as we continued to sell through Spring merchandise in February,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations.
Per the company’s previous announcement on February 24, 2005, starting with fiscal 2005, the company is changing external reporting to reflect Gap United States and Gap Canada together as Gap North America. This change aligns Gap division to be consistent with how the company reports North American operations at Old Navy and Banana Republic. Starting with fiscal 2005, International reporting includes stores in the United Kingdom, France and Japan.
As of February 26, 2005, Gap Inc. operated 3,001 store locations compared with 3,020 store locations last year.
For more detailed information, please call 1-800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421.
This excerpt taken from the GPS 8-K filed Jan 6, 2005. COMPARABLE STORE SALES DOWN 1 PERCENT
SAN FRANCISCO – January 6, 2005 — Gap Inc. (NYSE: GPS) today reported net sales of $2.6 billion for the five-week period ended January 1, 2005, which represents a 2 percent increase compared with net sales of $2.5 billion for the same period ended January 3, 2004. The company’s comparable store sales for December 2004 decreased 1 percent compared with a 1 percent increase in December 2003.
Comparable store sales by division for December 2004 were as follows:
“The month of December ended strong, despite somewhat disappointing overall December sales,” said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations. “Our promotional strategies allowed us to move through inventory in a disciplined manner and we are well prepared for the first flow of spring merchandise.”
Year-to-date net sales of $15.4 billion for the 48 weeks ended January 1, 2005, increased 3 percent compared with net sales of $14.9 billion for the same period ended January 3, 2004. The company’s year-to-date comparable store sales increased 1 percent compared with a 7 percent increase in the prior year.
As of January 1, 2005 Gap Inc. operated 3,049 store locations compared with 3,059 store locations last year.
For more detailed information, please call 800-GAP-NEWS to listen to Gap Inc.’s monthly sales recording. International callers may call 706-634-4421.
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