Gap reports improved comp-store sales

SAN FRANCISCO, Calif. Gap Inc. reported net sales of $1.33 billion for the five-week period ended Oct. 3, which is a decrease of 1% as compared with net sales of $1.34 billion for the same period ended Oct. 4 the prior year. The company’s comparable-store sales for September 2009 decreased 1% compared with an 11% decrease for September 2008.

Comparable-store sales for September 2009 were as follows: Gap North America: negative 8% versus negative 3% last year; Banana Republic North America: negative 12% versus negative 4% last year; Old Navy North America: positive 13% versus negative 24% last year; International: negative 4% versus positive 3% last year.

Year-to-date net sales were $8.82 billion for the thirty-five weeks ended Oct. 3, a decrease of 6% compared with net sales of $9.36 billion for the thirty-five weeks ended Oct. 4 the prior year. The company’s year-to-date comparable store sales decreased 6% compared with a 10% decrease last year.