Gap reports flat net sales in September

REPORT_ Gap has reported that its September 2013 net sales

were flat compared with last year. Net sales for the five-week period ended October 5, 2013 were 1.46 billion dollars compared with net sales of 1.45 billion dollars for the five-week period ended September 29, 2012.

“While September proved to be somewhat challenging, we remain steadfast in our commitment to deliver on our full-year goals,” said Glenn Murphy, Chairman and Chief Executive Officer of Gap based in San Francisco.

Due to the 53rd week in fiscal year 2012, September 2013 comparable sales are compared to the five-week period ended October 6, 2012. On this basis, Gap’s comparable sales for September 2013 were down 3 percent versus a 6 percent increase for September 2012.

Comparable sales by for Gap Global in September 2013 were negative 3 percent versus positive 3 percent last year, whereas Banana Republic Global reported negative 5 percent versus positive 4 percent last year and Old Navy Global stood negative 2 percent versus positive 10 percent last year.