This excerpt taken from the GPS 8-K filed Feb 3, 2005.
Company Expects to Report Fourth Quarter Earnings Per Share of $0.36 to $0.38
SAN FRANCISCO February 3, 2005 Gap Inc. (NYSE: GPS) today reported net sales of $891 million for the four-week period ended January 29, 2005, which represents a 5 percent decrease compared with net sales of $939 million for the same period ended January 31, 2004. The companys comparable store sales for January 2005 decreased 7 percent compared with a 3 percent increase in January 2004.
Comparable store sales by division for January 2005 were as follows:
Gap U.S.: negative 6 percent versus positive 6 percent last year
Gap International: negative 8 percent versus negative 2 percent last year
Banana Republic: positive 7 percent versus negative 1 percent last year
Old Navy: negative 13 percent versus positive 3 percent last year
Although overall sales for January were disappointing, we were pleased that total company merchandise margins and regular priced selling were above last year, said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations.