The Gap 2011 Annual Report Download - page 35

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Please find page 35 of the 2011 The Gap annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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Only Company-operated stores are included in the calculations of Comp sales. Gap and Banana Republic outlet
Comp sales are reflected within the respective results of each brand. The results for Athleta are excluded from the
calculations of total Company Comp sales due to its number of Comp stores compared to our other brands. The
results for Piperlime are excluded from the calculations of total Company Comp sales, as Piperlime is an online-
only brand.
A store is included in the Comp sales calculations when it has been open for at least one calendar year and the
selling square footage has not changed by 15 percent or more within the past year. A store is included in the Comp
sales calculations on the first day it has comparable prior year sales. Stores in which the selling square footage has
changed by 15 percent or more as a result of a remodel, expansion, or reduction are excluded from the Comp sales
calculations until the first day they have comparable prior year sales.
A store is considered non-comparable (“Non-comp”) when it has been open for less than one calendar year or has
changed its selling square footage by 15 percent or more within the past year.
A store is considered “Closed” if it is temporarily closed for three or more full consecutive days or is permanently
closed. When a temporarily closed store reopens, the store will be placed in the Comp/Non-comp status it was in
prior to its closure. If a store was in Closed status for three or more days in the prior year, the store will be in
Non-comp status for the same days the following year.
Online Comp sales are defined as sales through online channels in countries where we have existing Comp store
sales.
Current year foreign exchange rates are applied to both current year and prior year Comp sales to achieve a
consistent basis for comparison.
Store Count and Square Footage Information
Net sales per average square foot is as follows:
Fiscal Year
2011 2010 2009
Net sales per average square foot (1) ................................................... $337 $342 $329
(1) Excludes net sales associated with our online, catalog, wholesale, and franchise businesses.
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