Pursuits
U.S. Retailers’ Same-Store Sales Top Estimates on Weather
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Gap Inc. and Target Corp. reported March same-store sales that topped analysts’ estimates as unseasonably warm weather and an earlier Easter holiday boosted purchases of spring merchandise.
Sales at Gap, the largest U.S. apparel chain, climbed 8 percent, beating the average projection for a 4.6 percent gain from analysts surveyed by researcher Retail Metrics Inc. Target, the second-largest U.S. discount chain, posted a 7.3 percent increase in same-store sales, topping the 5.7 percent estimate.