Gap Q4 comparable sales up 1 percent

REPORT_ Gap has reported that its comparable sales for January 2014 were up 1 percent versus an

8 percent increase last year. For the fourth quarter of fiscal year 2013, comparable sales increased 1 percent versus a 5 percent increase last year, marking the company’s eighth consecutive quarter of positive comparable sales growth.

“We’re pleased to deliver a strong finish to the year, with another month and quarter of comp sales growth,” said Glenn Murphy, Chairman and Chief Executive Officer of Gap based in San Francisco.

January 2014 net sales for the four-week period ended February 1, 2014 were 899 million dollars compared with net sales of 1.13 billion dollars for the five-week period ended February 2, 2013. For the fourth quarter of fiscal year 2013, Gap net sales were 4.58 billion dollars compared with 4.73 billion dollars for the fourth quarter last year.

Comparable sales at Gap Global were positive 1 percent versus positive 4 percent last year, at Banana Republic Global, negative 10 percent versus positive 9 percent last year, Old Navy Global witnessed positive 4 percent versus positive 12 percent last year. For the fourth quarter of fiscal year 2013, Gap Global sales were positive 1 percent versus positive 2 percent last year, Banana Republic Global, negative 3 percent versus positive 3 percent last year, and Old Navy Global, flat versus positive 8 percent last year.

The company announced diluted earnings per share guidance for the fourth quarter of fiscal year 2013 in the range of 0.65 dollars to 0.66 dollars, representing full-year fiscal 2013 earnings per share growth in the mid-to-high teens, on top of 49 percent full-year earnings per share growth in fiscal 2012.

Net sales for the fiscal year 2013 were 16.15 billion dollars for the 52 weeks ended February 1, 2014 compared with net sales of 15.65 billion dollars for the 53 weeks ended February 2, 2013. The company’s comparable sales for fiscal year 2013 increased 2 percent compared with a 5 percent increase last year.