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Gap’s February Q4 same-store sales rise 3%, topping estimates
New York -- Gap Inc. said Thursday that its February same-store sales rose a better-than-expected 3% for the four weeks ended Feb. 25. Analysts expected a 2% increase.
The chain was due to release the sales figures after the market closed, but put them out at midday after they were found in a leaked transcript of prerecorded comments.
By division, same-store sales rose 2% at Gap and 6% at Old Navy. They fell 5% at Banana Republic.
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NRF: St. Patrick’s Day spending to grow to $4.7 billion
Washington, D.C. -- A report released Tuesday by the National Retail Federation said that spending for St. Patrick’s Day is expected to grow to $4.7 billion, as celebrants invest an average of $35.27 on green attire, St. Patrick’s Day décor and holiday food and drink.
According to NRF’s St. Patrick’s Day Spending Survey conducted by BIGinsight, 84.2% of consumers will celebrate by wearing green. An additional 23.3% will decorate their home or office, and 34.6% will make a special dinner.