11/16/12

Gap’s Q3 web sales grow 23%

International e-commerce sales increase 29% for the apparel chain.

Stefany Moore , Associate Director of Research

Online and total sales increased again for clothing retail chain Gap Inc. in the third quarter. But with the online channel growing faster than store sales, the web accounted for 35% of Gap’s sales growth in the quarter.

For the period ending Oct. 27, Gap, No. 22 in the Internet Retailer Top 500 Guide reported:

E-commerce sales accounted for 13.2% of total revenue during the quarter, compared with 11.5% last year. Gap did not disclose sales from its two e-commerce sites in Japan, which the retailer launched last month.

“We're very pleased with our strong third quarter financial performance, highlighted by how well customers have responded to our product,” says CEO Glenn Murphy. “We are ready to compete and win this holiday season as we drive to build upon our top-line growth.”

For the first three quarters of the fiscal year Gap also reported:

The web accounted for 12.0% of total sales in the first three quarters of the year, compared with 10.4% in 2011.

Topics:

Gap, Gap Inc., Glenn Murphy, Japan an e-commerce, Q3 2012 earnings, Top 500, Top 500 Guide

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