Gap February sales down 2%

Gap Inc reported that February 2011 net sales decreased 2 percent compared with last year.

Net sales for the four-week period ended February 26, 2011 were $821 million compared with net sales of $838 million for the four-week period ended February 27, 2010. The company’s comparable sales for February 2011, which include the associated comparable online sales, were down 3 percent compared with a 4 percent increase for February 2010.

The company noted that February represents a relatively small part of its overall revenue. The management team continues to be focused on delivering full year goals, as outlined during last week’s quarterly earnings announcement. Beginning in fiscal year 2011, the company reports comparable sales including the associated comparable online sales.

Comparable sales for February 2011, including the associated comparable online sales, were as follows: Gap North America: negative 1 percent versus positive 1 percent last year, Banana Republic North America: negative 4 percent versus positive 7 percent last year, Old Navy North America: negative 4 percent versus positive 5 percent last year, International: negative 7 percent versus flat last year.