Gap Up 9% After Reporting February Same Store Sales
Shares of Gap (NYSE: GPS) are up 9% after the company reported February same store sales.
The company today reported that February 2012 net sales increased 6 percent compared with last year.
Net sales for the four-week period ended February 25, 2012 were $874 million compared with net sales of $821 million for the four-week period ended February 26, 2011. The company's comparable sales for February 2012, which include the associated comparable online sales, were up 4 percent compared with a 3 percent decrease for February 2011.
“We're pleased we delivered positive comps across our North America businesses during February and that customers responded well to our spring product,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.
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