Gap shares soar on sales, earnings beat despite muted holiday forecast against uncertain backdrop

Gap beat Wall Street's estimates due to strong sales at Old Navy and improvements at its namesake banner.

Slowdowns at Banana Republic and Athleta , the company's other two brands, have dragged down its overall performance.

Gap only reaffirmed its full-year guidance and expects holiday-quarter sales to be flat to slightly negative.

Shares soared m third quarter in e Thursday trading as of Thursday's close.

Revenue at Gap's eponymou the holiday season million, a 15% drop compared to last Banana Republic ctive Athleta and was the worst performer dur Old Navy quarter.

Sales at Banana Republic, known for its workwear and going out pieces, fell 11%.

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