Friday, August 18, 2017

Gap’s Old Navy Chain Keeps Retailer’s Turnaround Hopes Alive

Image result for old navyGap Inc.’s investors are pinning their hopes for a turnaround on strong sales at Old Navy.

Same-store sales at Old Navy rose 5 percent, beating the 3.1 percent increase seen by analysts, according to Consensus Metrix. Sales by that key measure dropped 1 percent at the Gap brand, though that wasn’t as much as the 2.2 percent decline seen by Wall Street. Comparable sales at the Banana Republic chain fell 5 percent, compared with estimates for a 3.9 percent decrease.. . . more

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