Gap says its May sales improved

Gap says key sales measurement grew in May as Banana Republic and Old Navy stores did better

Associated Press

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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