Gap Joins Aeropostale in Holiday Gains on Deals for Shoppers
Gap Sales Fall Amid Banana Republic, Old Navy Rise
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Gap Inc. posted preliminary fourth-quarter earnings that topped analysts’ estimates while Aeropostale Inc. and Urban Outfitters Inc. also reported better-than-expected results from the holiday period.
The apparel chains managed to navigate a shopping period in which price factored heavily into consumers’ decisions on what to buy and retailers slashed prices to compete. U.S. holiday sales rose 4 percent industrywide, the biggest increase since 2011, according to the National Retail Federation.