Gap March Same-store Sales Up 2%

(RTTNews) - Gap Inc. (GPS) said Thursday that its same-store sales rose 2% in March.

Net sales for the five-week period ended April 4, 2015 increased 1% to $1.53 billion compared with net sales of $1.51 billion for the five-week period ended April 5, 2014.

For March, same-store sales fell 7% at the company's namesake stores and fell 3% at Banana Republic, but it rose 14% at the company's Old Navy stores.

The earlier timing of the Easter holiday peak shopping weeks this year, as compared to last year, benefited the company's March sales results and will likely negatively impact its April sales results, the company noted.