US: Gap sales continue to climb in March
US clothing giant Gap Inc continues to make progress on driving its top line sales after posting an 11% same-store sales gain in March.
"While we benefited from the Easter shift, our improved sales also reflect that customers are responding well to our brands' spring assortments and value proposition," said Sabrina Simmons, chief financial officer.
Net sales for the five weeks to 4 April were up 12% from last year to $1.45bn, compared with $1.29bn last time.
"We're pleased that we continued to make progress on our goal of driving top line sales and that we delivered merchandise margins significantly above last year," Simmons added.
By division, comparable store sales for March were up 11% at Gap North America, rose 10% at Banana Republic North America, and were up 13% at Old Navy North America. International same-store sales were 5% higher than last year.
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