Hints and tips:
...The retailer, which also owns the Banana Republic and Athleta brands, described Dickson as the “lead architect” in “reinvigorating” Mattel’s brands....
...Gap Inc is currently in crisis. Its brands — Old Navy, Gap, Athleta and Banana Republic — face weak or falling sales and the business is lossmaking....
...Return-to-work wardrobe shopping by office workers helped make Banana Republic, the company’s dressier work attire brand, a stand out during the quarter. The unit helped Gap deliver a surprise profit....
...The retailer, which also owns the Banana Republic and Athleta brands, said it anticipates adjusted operating margin percentage to be “zero to slightly negative” in its second quarter....
...It has to regain its rhythm by reinvigorating the Gap brand while luring more customers back to Banana Republic, its office-apparel brand....
...Gap’s main challenge remains fixing its namesake brand and luring customers back to Banana Republic, its work-focused apparel business....
...Though its app now leans heavily towards food delivery, Postmates still offers retailers including Apple and Banana Republic “delivery as a service”....
...Banana Republic, a more upmarket brand owned by the group, closed its stores in Europe two years ago....
...The 55-year-old Gap veteran joined only two years ago after a stint struggling to turn around the retailer’s Banana Republic chain....
...Republic and Old Navy as well as the eponymous chain, said the suspension of rent payments for stores that have been closed was saving the company $115m per month in North America....
...Comparable sales at Banana Republic and Old Navy slipped 3 per cent and 4 per cent, respectively....
...The New York-listed company, valued at almost $7bn, had laid down plans almost a year ago to separate its Old Navy division from the rest of the group, which includes Banana Republic as well as its namesake...
...Under Mr Peck, the company, which also owns Banana Republic and Old Navy, has continued its downward spiral. Like-for-like sales have failed to grow for four consecutive quarters....
...The biggest decline was at the eponymous Gap brand, down 10 per cent, yet they also fell 1 per cent at its better-performing Old Navy division and 3 per cent at Banana Republic....
...The American writer O Henry coined the term “banana republic” to describe a fictional tropical country — clearly Honduras — exploited by US fruit companies....
...Comparable sales across the company were flat, with Banana Republic and Old Navy showing gains. Total revenue and earnings also grew, aided by higher online sales....
...The remaining company will include Gap, Banana Republic and several other brands, and will be renamed after the separation....
...At its Old Navy brand, the company’s largest division, comparable sales rose 5 per cent and at Banana Republic, they rose 2 per cent. However, its Gap brand saw comparable sales fall 5 per cent....
...They were up 3 per cent at both its Banana Republic brand and Old Navy, the retailer’s largest division....
...While Gap has made some progress in its effort to slow sliding sales across its retail portfolio — which includes Old Navy and Banana Republic — its eponymous brand has remained challenged, amid changing...
...Banana Republic also staunched some of its bleeding, dropping 1 per cent compared to last year’s 6 per cent slide....
...The moves come after the retailer behind brands including Old Navy, Gap, Banana Republic and Athleta said Jeff Kirwan would be leaving the company....
...Republic and flagship Gap lines....
...Moreover, a string of fashion misses at its Banana Republic had also eroded sales at the brand....
...Higher sales of Old Navy and Banana Republic clothing is expected to boost second-quarter sales and profit for apparel retailer Gap....
International Edition