Gap Profit Exceeds Estimates as Old Navy Chain Boosts Sales

Gap Inc., the biggest apparel-focused retailer in the U.S., posted fourth-quarter profit that was higher than analysts estimated as the company’s discount brand Old Navy boosted sales.

Profit excluding some items was 75 cents a share in the quarter ended Jan. 31, the San Francisco-based company said in a statement on Thursday. Analysts had projected 74 cents a share after the company gave preliminary results of 73 cents to 74 cents earlier this month.