Gap (GPS)

Fiscal Year 2009 Results

Net sales for the 52 weeks ended January 30, 2010 were $14.20 billion compared with $14.53 billion for the 52 weeks ended January 31, 2009. The company’s fiscal year 2009 comparable store sales decreased 3 percent compared with a decrease of 12 percent for the prior year. The company’s online sales for fiscal year 2009 increased 9 percent to $1.12 billion, compared with $1.03 billion in the prior year.

Fiscal Year 2008 Results

Net sales for the 52 weeks ended January 31, 2009 were $14.5 billion compared with $15.8 billion for the 52 weeks ended February 2, 2008. The company’s fiscal year 2008 comparable store sales decreased 12 percent compared with a decrease of 4 percent for the prior year. The company’s online sales for the fiscal year increased 14 percent to $1.03 billion, compared with $903 million in the prior year.

Fiscal Year 2007 Results

Net sales for the 52 weeks ended February 2, 2008 were $15.8 billion. Net sales were $15.9 billion for the 53 weeks ended February 3, 2007. Due to the 53^rd week in fiscal year 2006, fiscal year 2007 comparable store sales are compared with the 52 weeks ended February 3, 2007. On this basis, the company’s fiscal year 2007 comparable store sales decreased 4 percent compared with a decrease of 7 percent for the prior year. The company’s online sales for the fiscal year increased 24 percent to $903 million, compared with $730 million in the prior year.

Fiscal Year 2006 Results

Net sales for the 53 weeks ended February 3, 2007 were $15.9 billion. Net sales were $16.0 billion for the 52 weeks ended January 28, 2006. Comparable store sales for the 52 weeks ended January 27, 2007 decreased 7 percent, compared with a decrease of 5 percent in the prior year. The company’s online sales for the 53 weeks ended February 3, 2007 increased 23 percent compared with the 52 weeks ended January 28, 2006.

The following table contains divisional comparable store sales and net sales for the fourth quarter and fiscal year 2006 over the prior year.

Fiscal Year 2005 Results

Net sales of $16.0 billion for the 52 weeks ended January 28, 2006, decreased 2 percent, compared to $16.3 billion for the same period last year. The company’s comparable store sales for the year decreased 5 percent, compared with flat comparable store sales last year.

The following table contains divisional comparable store sales and net sales results for the fourth quarter and fiscal year 2005 over the same periods last year.

Fiscal 2004 Results

Net sales of $16.3 billion for the 52 weeks ended Jan. 29, 2005, increased 3 percent, compared with net sales of $15.9 billion for same period ended Jan. 31, 2004. The company’s comparable store sales for the year were flat, compared with an increase of 7 percent in the prior year.

For the year, the company reported preliminary net income of $1.1 billion, or $1.20 per diluted share, compared with net income of $1.0 billion, or $1.09 per diluted share, last year.

The following table represents the company’s fourth quarter comparable store sales, fourth quarter net sales, fiscal year 2004 comparable store sales and fiscal year 2004 sales by division.