Gap June Sales Up 8%

(RTTNews) - Gap Inc. (GPS) Thursday said net sales for June increased 8 percent from a year ago, with comparable sales up 7 percent.

The San Francisco, California-based apparel retailer said sales for the five-week period ended July 6, 2013 rose to $1.53 billion from $1.41 billion last year.

"We are pleased with our June sales results," said Glenn Murphy, chairman and chief executive officer of Gap Inc. "Old Navy's performance was particularly strong."

Due to the 53rd week in fiscal year 2012, June 2013 comparable sales are compared to the five-week period ended July 7, 2012. On this basis, Gap's comparable sales for June 2013 were up 7 percent versus flat for June 2012.