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Gap reports flat year-on-year sales for April

Gap, the US casualwear retailer, reported flat year-on-year sales of $1.05bn (£727m) for the four weeks to May 1.

The company’s like-for-like sales for April fell 3% compared with a 4% drop in April 2009.

First quarter sales increased 6% to $3.33bn (£2.31bn), up from $3.13bn (£2.17bn) for the first quarter last year.

Gap chief financial officer Sabrina Simmons said: “With sales growth across all of our brands and significantly improved earnings, we are very pleased with our first quarter performance.”

Gap’s North American division reported a 2% increase in year-on-year sales, at Banana Republic sales rose 5% and at Old Navy sales increased 7%.

Sales at international stores remained flat for the first quarter and fell 5% on a like-for-like basis for April.

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