Gap Inc. Sees Slight Sales Bump in May

SAN FRANCISCO —Gap Inc. reported net sales of $1.19 billion for the four-week period ended June 2, a 2% increase compared with net sales of $1.16 billion for the like period last year. Comps for May 2007 decreased 3% compared to a 6% decrease as reported for May 2006. “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 vp of corporate finance.