February 24, 2011, 5:20 PM

Gap’s web sales grow 16% in 2010

The Internet channel now accounts for 8.9% of total sales.

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There’s wasn’t any gap in e-commerce sales for Gap Inc. last year. The specialty apparel retailer finished 2010 with a nice jump in annual web sales and for the fourth quarter.

For the year ended Jan. 29, Gap, No. 23 in the Internet Retailer Top 500 Guide, posted:

  • An increase in web sales of 16.1% to $1.3 billion from $1.12 billion in 2009.
  • Total sales increased year over year 3.2% to $14.66 billion from $14.20 billion.
  • Comparable-store sales increased 2%.
  • Net income rose 9.1% to $1.2 billion from $1.1 billion in 2009.

Internet Retailer calculates the web accounted for 8.9% of total sales in 2010 compared with 7.9% in 2009.

For the fourth quarter, Gap reported:

  • An increase in web sales of 22.8% to $404 million from $329 million in Q4 2009.
  • Total sales increased year over year 2.8% to $4.36 billion from $4.24 billion.
  • Comparable-store sales were flat.
  • Net income rose 3.7% to $365 million from $352 million in Q4 2009.

Internet Retailer calculates the web accounted for 9.3% of total sales in 2010 compared with 7.8% in 2009.

 

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