Sales at Gap Inc. beat expectations in May

Strong sales at Gap and Old Navy stores helped results.Lucas Jackson/Reuters

Gap Inc. reported that its sales rose more than expected in May, helped by strong results at its Gap and Old Navy stores. Total comparable sales rose 7 percent in May. Analysts had projected 3.7 percent, according to Retail Metrics Inc. Same-store sales at Banana Republic were little changed, missing analysts’ estimate for a 0.7 percent gain; The Gap rose 8 percent, beating an estimated 3.8 percent gain; and Old Navy rose 9 percent, topping an estimate for a 5.4 percent jump.