Gap Holiday Same-store Sales Up 3%

(RTTNews) - Gap Inc. (GPS) said Thursday that its net sales were up 4% and same-store sales were up 3% for the November and December 2014 holiday shopping season, compared with last year.

"During November and December, we were pleased to achieve a positive 3 comp, led by Old Navy with a very strong 12 comp for the combined holiday months," said Glenn Murphy, chairman and chief executive officer of Gap Inc.

Net sales for the five-week period ended January 3, 2015 increased 2% to $2.10 billion from $2.05 billion for the five-week period ended January 4, 2014.

The company's same-store sales rose 1% in December, including negative 5% at its namesake stores, flat at Banana Republic and positive 8% at Old Navy stores.