Gap Inc. (NYSE: GPS) reported Thursday that sales in stores open at least a year rose 2 percent in December, citing that strongest results came from their Old Navy chain, according to Associated Press.
Total sales for the five weeks ended Jan. 2 rose 5 percent to $2.02 billion from $1.93 billion last year.
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Analysts surveyed by Thomson Reuters, on average, expected sales in stores open at least one year to rise 2.6 percent.
Sales in stores open at least one year rose 1 percent at Gap stores, fell 3 percent at Banana Republic and rose 7 percent at Old Navy. Internationally, they fell 1 percent.
Year-to-date, sales in stores open at least a year fell 4 percent while total sales fell 3 percent to $13.4 billion.
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