Gap April Comparable Sales Up 9%; Stock Up - Quick Facts

(RTTNews) - Fashion retailer Gap Inc (GPS) said Thursday that April sales increased 10 percent to $1.33 billion from $1.21 billion last year. On a comparable store basis, sales for April were up 9 percent compared with a 7 percent increase a year ago.

For the first quarter of 2014, Gap's sales increased 1 percent to $3.77 billion from $3.73 billion last year. On average, 29 analysts polled by Thomson Reuters expected sales of $3.69 billion for the quarter.

Comparable sales for the quarter decreased 1 percent compared with a 2 percent increase last year.

"We are pleased with our execution overall in April, especially at Old Navy," said Glenn Murphy, Gap chairman and chief executive officer.

Gap shares gained 5.76% at $41.50 in after-hours trading on the NYSE.