Gap posts surprise rise in comparable sales on Old Navy, Athleta strength

FILE PHOTO: A woman shops at a Gap store as pre-Thanksgiving and Christmas holiday shopping accelerates at the King of Prussia Mall in King of Prussia, Pennsylvania, U.S. November 22, 2019. REUTERS/Mark Makela

(Reuters) – Gap Inc reported a surprise rise in quarterly comparable sales on Tuesday, powered by online demand for its Athleta athleisure wear and Old Navy affordable apparel from stuck-at-home customers.

Third-quarter comparable sales rose 5%, compared with the average analyst estimate of a 0.62% fall, according to IBES data from Refinitiv.

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