SAN FRANCISCO (AP) — Clothing retailer Gap Inc. says that a key revenue figure rose 4 percent in February, helped by strong demand for spring clothing at its Banana Republic chain.
Analysts expected a 1.4 percent drop. Sales at stores open at least a year, called same-store sales, is considered an important measurement of retailer performance, because it excludes results from locations that have opened or closed in the last year. Gap includes online sales in the figure.
During the four weeks ended Feb. 25, same-store sales rose 12 percent at Banana Republic, 5 percent at Old Navy and 1 percent at Gap North America stores. All of them beat analysts' estimates.
The figure fell 9 percent internationally.
Total sales at the San Francisco company rose more than 6 percent to $874 million.