Gap Sales Grow in October, 3Q Ahead of Expectations

Gap (NYSE:GPS) gained more than 6% after posting stronger-than-expected third-quarter revenue, driven in part by October sales and international demand. The San Francisco-based retailer reported third-quarter revenue of $3.65 billion, up 2% from $3.59 billion a year ago, beating the Street’s view of $3.56 billion. Comparable store sales for the three-month period ended Oct. 31 were flat. Gap said international demand, up 3% in comparable store sales from a 6% decline last year, led the identical store sales, with Gap North America up 1% from a 7% drop last year