December 5, 2006, 12:00 AM

Gap Q3 web sales rise 36%

Web sales once again represented the only bright spot in another flat quarter for Gap Inc. In the third quarter, combined web sales for the retailer’s Gap, Old Navy and Banana Republic brands grew by 36% while total sales stayed flat at $3.9 billion.

Mark Brohan

Research Director

Web sales once again represented the only bright spot in another flat quarter for Gap Inc.

In the third quarter, combined web sales for the multi-channel retailer’s Gap, Old Navy and Banana Republic brands grew by 36% while total sales stayed flat at $3.9 billion. For Q3 web sales totaled $182 million vs. $134 million in Q3 2005.

“Business in the third quarter continued to be challenging and we experienced a decrease in sales at Gap and Old Navy brands, offset by an increase in sales at Banana Republic and online for overall flat sales compared to the third quarter of last year,” the retailer says in its recently filed earnings report.

OldNavy.com remains Gap’s largest online brand with web sales of $88 million in Q3, followed by Gap.com, which generated sales of $57 million and BananaRepublic.com with third-quarter sales of $27 million.

For the first nine months of the year, Gap, No. 24 in the Internet Retailer Top 500 Guide to Retail Web Sites, reported online sales of $479 million vs. web revenue of $379 million for the period of January through September in 2005. Total sales for the first three quarters reached $11.01 billion, a decrease of 1.7% from sales of $11.2 billion for January through September in 2005.

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