Gap sees November sales rise

Gap today reported net sales of $1.54 billion for the four-week period ended December 1, 2007. An 11 percent increase compared with net sales of $1.39 billion for the four-week period ended November 25, 2006.

Comparable store sales for North America were 1 percent versus negative 7 percent last year. International: positive 1 percent versus negative 8 percent last year

“While we were pleased with our sales performance in November, the most important month of the quarter, December, remains ahead of us,” said Sabrina Simmons, executive vice president, finance and acting chief financial officer, Gap Inc. “As a result, we are maintaining our earnings outlook for the full year.”

Year-to-date net sales of $12.63 billion for the 43 weeks ended December 1, 2007, increased 2 percent compared with net sales of $12.40 billion for the 43 weeks ended November 25, 2006.

Gap recently suffered a series of setbacks with allegations of employing underage factory workers being employed by its suppliers. The company also announced Banana Republic, it’s more upmarket retail brand, is to launch in the UK.

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