Gap Inc. monthly comps down 12%

SAN FRANCISCO Gap Inc. reported net sales of $795 million for the four-week period ended Feb. 28, which represents a 12% decrease compared with net sales of $907 million for the four-week period ended March 1, 2008. The company’s comparable-store sales for February were down 12% compared with a 6% decrease in February 2008.

“While sales results were challenging, we’re pleased that merchandise margins were in line with last year,” said Sabrina Simmons, CFO Gap Inc.