Gap has posted net sales of $3.33bn (£2.2bn) in its first quarter, a rise of 6% on the same period last year. Like-for-like sales increased 4% and net income rocketed 40% to $302m (£200m).

Chairman and chief executive Glenn Murphy said: “Fuelled by our strengthened economic model, we are in a strong position to execute on our international and online strategic investments as we continue to build upon the momentum in North America.”

In North America, like-for-like sales at Gap were up 2%, 5% at Banana Republic and 7% at Old Navy. International comparatives were flat.