Gap profits rocketed 25% in its third quarter, helped by growing sales at its Old Navy fascia.

Total sales rose 1% to $3.59bn (£2.17bn) for the quarter to October 31. Like-for-like sales at Old Navy were up 10% against an 18% fall the year before.

The fashion retailer is focused on gaining market share in the Christmas period by investing in marketing and presenting a strong value proposition. International like-for-likes sales including the UK were down 6%, compared with a fall of 1% last year. Sales grew to $378m (£229m).

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