Gap 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