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What: Even a blind squirrel finds a nut once in a while. Shares of retailer Gap
So what: Gap, which had been expected by Wall Street to post a 1.4% same-store sales decline, posted a 4% comparable-store sales rise, aided by a 12% sales jump in Banana Republic versus a 4% decline last year. Gap's weak segment continues to be its international sales, which contracted by 9% in February.
Now what: Before you get too excited, you should know that this was Gap's first positive same-store comps since June and, as I said earlier, even a blind squirrel has to find a nut once in a while. The weather couldn't have been more conducive to Gap's sales, but I still don't feel it has the product that consumers want.
In addition, it isn't like Gap was the only retailer to benefit from warmer weather. Limited Brands'
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