News Column

Gap says its May sales improved

June 5, 2014

NEW YORK (AP) Retailer Gap said Thursday that its sales improved in May on better results for its Banana Republic and Old Navy brands.

Revenue at locations open at least a year rose 1 percent. Thomson Reuters says analysts expected those sales to grow 0.2 percent.

Revenue at stores open at least a year is considered a key measurement of retailer health because they exclude results from stores that opened or closed within the last year.

The metric rose 3 percent for Banana Republic and 2 percent for Old Navy but fell 3 percent at Gap.

The San Francisco company's overall revenue rose 4 percent to $1.27 billion.

Gap Inc. shares added 54 cents, or 1.3 percent, to $41.73 in aftermarket trading. The stock rose 4 cents to $41.19 during the day.

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Source: Associated Press

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