Gap, Inc.

New York -- With only a few exceptions, retailers are posting solid gains in May, with such chains as Target, TJX, Ross and TJX Cos. beating Wall Street forecasts for the month. The Thomson Reuters Same-Store Index, which tracks the stores that release monthly sales reports, is expected to rise 3.6% in May.

"Analysts are taking a careful approach to May same-store sales given the cautious tone issued by most retailers on second-quarter earnings guidance," said Ken Perkins of Retail Metrics, in a research report.

New York -- J. Crew CEO Milliard “Mickey” Drexler is the subject of a CNBC documentary that will premier Thursday, May 24 at 10 p.m., ET, with a re-air at 1 a.m., ET.

I’m just back from the retail real estate industry’s annual confab, the International Council of Shopping Centers’ RECon, in Las Vegas. As part of the event, Faith Hope Consolo, chairman, Prudential Douglas Elliman, hosted a panel discussion of retailers at the Women’s Special Industry Group meeting. Here are some of the more notable quotes from the discussion:

Brenda Godfrey, VP global store development, Starbucks Coffee Co.

San Francisco -- Gap Inc. said Thursday that profit for the quarter ended April 28 was flat compared with the year-ago period, but its results beat Wall Street forecasts and prompted the retailer to raise its outlook for the year.

Gap reported a profit of $233 million for the first quarter. Revenue rose 6% to $3.49 billion, beating analysts’ estimated $3.46 billion in revenue, and same-store sales rose 4%.

SAN FRANCISCO — Gap Inc. raised its full year guidance Thursday after reporting first quarter sales and earnings per share growth. For the quarter ended April 28, sales increased 6% to $3.5 billion compared with $3.3 billion for the first quarter last year. The company’s first quarter comparable sales increased 4%. Net income for the first quarter was $233 million, flat compared with the first quarter last year. First quarter diluted earnings per share increased 18% to 47 cents compared with 40 cents last year.

NEW YORK — Gap has launched a new global marketing campaign focused on its new t-shirt collection. The line will include three categories—The Now Tees, The Essential Tees, and The G Tees— as well as other t-shirt-inspired styles including dresses, skirts, tanks and rompers.

San Francisco -- Online retailer Piperlime, a division of Gap Inc., will open its first retail store this fall, in the SoHo neighborhood of New York City.

The 4,000-sq.-ft. Piperlime store will offer a similar curated assortment as online, and be styled as a boutique. It will feature a range of brands, from Fryle to Citizens of Humanity, along with upcoming, lesser-known ones, such as Tinley Road and Maison Scotch.

SAN FRANCISCO — Gap Inc. has selected long-time H&M veteran, Stefan Larsson, as the first global brand president for Old Navy. Larsson will join the company by October.