Sales for US-based fashion giant Gap are booming at its Banana Republic and Old Navy store chains.
The retail giant reported total sales up 22 per cent to£1.2 billion in the four weeks to May 3, compared with£600 million a year ago. Sales in the US climbed 23 per cent and 20 per cent at Gap International. Banana Republic and Old Navy also rose, up 11 per cent and 20 per cent respectively.
Bear Stearns analyst Dana Telsey said: 'The response to Gap and Old Navy's summer product is especially encouraging and evidence that the recent momentum at these brands is sustainable.'