NEW YORK — The nation's largest retail trade group says holiday sales increased 4.1 percent, near the top end of its forecast.

The National Retail Federation had expected a range of 3.8 percent to 4.2 percent for the November and December period.

The results offer a dose of optimism for the retail industry after several large stores delivered disappointing holiday sales.

The numbers exclude sales from automobile dealers, gas stations and restaurants.

Online and other non-store sales were up 14.6 percent over the prior year and are included in the total.

The National Retail Federation forecast considers economic indicators such as consumer credit, disposable personal income and monthly retail sales.

NEW YORK — Gap Inc. said Thursday that its board scuttled plans to spin off Old Navy as a separate public company after determining it would be too costly and complex, especially given the company’s recent struggles.Its stock was up about 7 percent in after-hours trading Thursday.Gap announced in February 2019 that it planned to split into two publicly traded companies, one for its low-cost Old Navy brand and another for Gap, Banana Republic and its lesser known brands like Athleta, Intermix and Hill City. But analysts started to doubt Gap would stick with the plan when it fired CEO Art Peck in November after his efforts to reinvigorate the business failed.The company announced that Robert J. Fisher, Gap’s non-executive chairman, would serve as president and CEO on an interim basis. “The work we’ve done to prepare for the spin shone a bright light on operational inefficiencies and areas for improvement,” said Fisher in a statement Thursday. “We have learned a lot and intend to operate Gap Inc. in a more rigorous and transformational manner that empowers our growth brands, Old Navy and Athleta, and appropriately focuses on profitability for Banana Republic and Gap brand.”