Sales for US fashion giant Gap beat expectations in October up 5% on last year to $1.14bn (£70m).

Comparable store sales also increased for the month up 4% compared to a 16% decrease in October last year.

Gap chief financial officer Sabrina Simmons said: “We’re pleased that we grew sales in October while delivering merchandise margins significantly above last year,”

She added: “For the third quarter, we expect to deliver diluted earnings per share about 20 percent above last year.”

Gap’s Banana Republic fascia had a like-for-like sales growth of 5%, up from a like-for-like sales decline of 17% last October. Old Navy was up 14% whilst is eponymous Gap fascia was down 6 per cent on a comparable basis.

International sales were down 4% in October.