November 16, 2017 / 9:24 PM / a month ago

Gap's same-store sales beat estimates

Nov 16 (Reuters) - Clothing retailer Gap Inc’s quarterly same-store sales beat estimates, as it sold more lower-priced apparel under the Old Navy brand and reined in discounts.

Overall same-store sales rose 3 percent in the third quarter ended Oct. 28, while analysts were expecting it to rise 1.01 percent, according to Thomson Reuters I/B/E/S.

The company’s net sales rose to $3.84 billion from $3.80 billion. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Shounak Dasgupta)

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