Old Navy buoys Gap Inc. again

Surging sales at Old Navy helped Gap Inc. offset sales declines at its namesake division and its Banana Republic stores in March.

Gap Inc. reported that net sales for the five-week period ended April 4 increased 1 percent to $1.53 billion compared with net sales of $1.51 billion for the five-week period ended April 5.

“We are especially pleased with the strong customer response to Old Navy during this peak spring shopping month, and we remain focused on the steps necessary to drive improved product consistency across our entire portfolio,” said Sabrina Simmons, chief financial officer, Gap Inc.

By division, Gap's global same-store sales fell 7%, the 11th consecutive monthly decline. Banana Republic's global sales fell 3%. In comparison, Old Navy's same-store sales surged 14% from the year-ago period.

Gap Inc. operates 3,300 stores all over the world.