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Gap’s web sales grow 16% in 2010
The Internet channel now accounts for 8.9% of total sales.
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.