The FINANCIAL -- Gap reported that January 2012 net sales decreased 1 percent compared with last year.

According to Gap, net sales for the four-week period ended January 28, 2012 were $833 million compared with net sales of $843 million for the four-week period ended January 29, 2011. The company’s comparable sales for January 2012, which include the associated comparable online sales, were down 4 percent compared with a 3 percent increase for January 2011.

In addition, the company reported that net sales for the fourth quarter of fiscal year 2011, which ended January 28, 2012, decreased 2 percent to $4.28 billion compared with $4.36 billion for the fourth quarter last year. The company’s comparable sales for the fourth quarter of fiscal year 2011, which include the associated comparable online sales, were down 4 percent compared with a 1 percent increase in the fourth quarter last year.

The company announced diluted earnings per share guidance for the fourth quarter of fiscal year 2011 to be in the range of $0.41 to $0.42, above First Call consensus of $0.35. In addition, it expects year-end inventory dollars per store to be below previous guidance.

Net sales were $14.55 billion for the 52 weeks ended January 28, 2012, a decrease of 1 percent compared with net sales of $14.66 billion for the 52 weeks ended January 29, 2011. The company’s comparable sales for fiscal year 2011, which include the associated comparable online sales, were down 4 percent compared with a 2 percent increase last year.

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