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Retail sales show strength in April, led by Gap, L. Brands and Costco
New York -- Many retailers reported better than expected sales in April, helped by warmer weather and a later-than-usual Easter. Gap Inc., L Brands, Costco Wholesale Club, The Buckle, Stein Mart and Zumiez all came in ahead of analysts estimates.
At Gap Inc., same-store rose a better-than-expected 9% in April. By banner, sales were up 3% at Gap stores, 7% at Banana Republic and 18% at Old Navy. Analysts had expected Gap’s total same-store sales to inch up 0.1%.
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Sprouts Farmers Market profits in first quarter
Sprouts Farmers Market’s president and CEO Doug Sanders credited the company’s focus on offering healthy food at affordable prices for 28 consecutive quarters of positive same-store sales growth as well as record first quarter results that outperformed its targets.