Old Navy has ended its streak of poor results.
Gap Inc. shares (GPS) rose more than 7 percent in early trading Friday after the San Francisco-based operator of Gap, Old Navy and Banana Republic reported that net sales for the five weeks ended July 2 rose 2 percent to $1.57 billion.
That increase was mostly down to the fact that total same-store sales were up 2 percent last month, versus a 1 percent decrease in June 2015. Analysts had expected a 3.6% drop.
Read more at Sourcing Journal.