An analyst on Friday raised her estimates and price target for Gap Inc. on the retailer's sales performance last month, primarily in its Old Navy segment.
UBS analyst Roxanne Meyer told clients in a note Friday that the company's sales performance beat estimates as it improved on margins and saw growth in Old Navy.
The San Francisco-based retailer said Thursday that its August comparable-store sales fell 3 percent, not as much as the 7 percent drop analysts had anticipated. Old Navy sales at stores open at least a year rose 4 percent, below analyst expectations of 6.4 percent. But comparable sales at namesake chain Gap fell 7 percent, and pricier Banana …
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