This excerpt taken from the GPS 8-K filed Feb 2, 2006.
Company Expects to Report Fiscal Year 2005 Earnings of $1.22 to $1.25
SAN FRANCISCO February 2, 2006 Gap Inc. (NYSE: GPS) today reported net sales of $955 million for the four-week period ended January 28, 2006, which represents a 7 percent increase compared with net sales of $891 million for the same period ended January 29, 2005. The companys comparable store sales for January 2006 increased one percent compared with a seven percent decrease in January 2005.
Comparable store sales by division for January 2006 were as follows:
Overall, we are pleased with our January performance, as total company sales were above our expectations, said Sabrina Simmons, senior vice president, treasury and investor relations. January was a clearance month. While customers responded to our brands efforts to clear holiday merchandise, our merchandise margins were significantly below last year.