NEW YORK, United States — Gap Inc., the biggest U.S. apparel-focused retailer, 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 projected 74 cents a share after the company gave preliminary results of 73 cents to 74 cents earlier this month.

Chief Executive Officer Art Peck, who took over the role Feb. 1, is working to revive Gap’s namesake brand, continue its global expansion and improve the digital and store experiences. The retailer’s off-price Old Navy chain has been boosting results as consumers look for discounts. Sales at stores open at least a year and online at Old Navy grew 11 percent in the most recent quarter.

“Old Navy continues to outperform and gain share in a highly promotional retail environment,” Richard Jaffe, an analyst at Stifel Financial Corp. in New York, wrote in a note to clients before the results were released. “Continued refinement of the merchandise assortment and the resulting sales growth at all divisions is necessary to improve the company’s profitability.”

Gap rose 2.8 percent to $41.50 at 4:15 p.m. in late trading in New York. The stock slid 4.1 percent this year through the close of regular trading Thursday, compared with a 2.5 percent gain in the Standard & Poor’s 500 Index.

By Lindsey Rupp. Editors: Nick Turner, Kevin Orland, John Lear.