On October 15, 2009
Gap Stands Behind Flailing Banana Republic
[caption id=”attachment_4460″ align=”alignright” width=”125″ caption=”Banana Fall-Line Outfit”][/caption] Gap Inc.’s Banana Republic chain, once a go-to place for young professionals, is a victim of hard times nowadays. But Gap executives said at their recent investor conference that they are standing by the brand and rolling out new initiatives to get it rolling again. While sales at none of the Gap chains are hitting it out of the park this year, Banana is consistently performing as the worst of the three, which also include the company’s namesake chain and Old Navy. Same-store sales at Banana are averaging a 13 percent drop so far this year. Meanwhile, Gap is down 10 percent, and Old Navy is turning in a surprisingly good story as…
0 Comments