Banana Republic news and archive

Gap Q1 sales top pre-Covid levels, swings to profit

Sales at US fashion and lifestyle retailer Gap topped pre-Covid levels in the first quarter of the year as its markets opened back up, leading to a hike in its full-year outlook. The company said net sales across its brands for the first quarter ending May 1 were up 89 percent to 3.99 billion dollars compared to last year when the pandemic was...

BusinessFeatured

Gap posts sales decline in Q4, expects recovery in 2021

Gap’s diluted earnings per share were 61 cents for the fourth quarter of fiscal year 2020. The company said, net sales were 4.4 billion dollars, a decrease of 5 percent compared with last year, while online sales grew 49 percent compared with last year and represented 46 percent of net sales in the fourth quarter, which was an increase of over...

Fashion

John Lewis adding 50 new fashion and beauty brands

Department store John Lewis is adding 50 new fashion and beauty brands, from start-up independents to high street favourites to cater for what it calls a “shift in dress codes” with shoppers opting for more comfortable, casual attire over more formal styles. Over the past 12 months, lifestyles have changed and with it, what customers want in...

Business

Gap posts flat sales growth in Q3

Gap Inc. said that its third quarter results reflected flat sales versus last year, supported by 5 percent growth in comparable sales, which was driven by a 61 percent increase in online sales. The company said in a statement that net sales were impacted by the company’s ongoing strategy to close unprofitable stores. Gross margin increased 160...

People

Gap Inc. names new chief growth officer & Banana Republic CEO

Gap Inc. is making changes to its leadership teams. The company has just announced two new appointments: Asheesh Saksena to the role of chief growth officer for the Gap Inc. senior leadership team and Sandra Stangl as president and chief executive officer of Banana Republic. Saksena will join Gap Inc. in January 2021. His role has been newly...

Fashion

Banana Republic re-releases necklace to honor Ruth Bader Ginsburg

Banana Republic is honoring the late Supreme Court Justice Ruth Bader Ginsburg by re-releasing its popular "Notorious" necklace. The style was first sold in 2012, inspired by a statement necklace worn by Ginsburg. The brand will donate 100 percent of the proceeds of the necklace to the International Center for Research on Women, up to 500...

BusinessFeatured

Online demand boosts Gap's Q2, comparable sales increase by 13 percent

Net sales at Gap Inc., were down 18 percent year-over-year to 3,275 million dollars, reflecting a 95 percent increase in online sales, offset by a 48 percent decline in store sales, which were impacted by partial closures during the quarter. During May, the company said in a statement, Gap began reopening stores previously closed as a result of...

BusinessFeatured

Store closures hit Gap's Q1 sales, posts 43 percent decline

Gap Inc.’s first quarter net sales were down 43 percent, as the company said, momentum in the first 35 days of the quarter was more than offset by meaningful deceleration in demand after temporary store closures beginning in mid-March. While the company’s first quarter online sales increased 13 percent, store sales decreased 61 percent compared...

Fashion

Banana Republic donates 20 million dollars worth of clothing

Banana Republic is responding to the current crises in the U.S. through clothing donations. The Gap Inc.-owned brand has pledged 20 million dollars worth of clothing to those in need. The company has partnered with nonprofit Delivering Good to donate clothing to several partner organizations in states that have been most impacted. These...

Fashion Featured

Gap looking to attract new audiences through licensing

Global fashion retail group Gap Inc. has appointed licensing leader IMG as its first-ever exclusive multi-brand licensing representative, as it eyes expansion with cross-category product extensions that will help it introduce new audiences around the world to its portfolio of brands. The new multi-year licensing deal will initially focus on Gap,...

BusinessFeatured

Gap's Q4 sales increase 1 percent, the company names new CFO

On a reported basis, Gap Inc. said its diluted loss per share was 49 cents for the fourth quarter and diluted earnings per share for fiscal year 2019 were 93 cents, while the company’s adjusted diluted earnings per share were 58 cents for the fourth quarter and 1.97 dollars for fiscal year 2019. The company’s fourth quarter comparable sales were...

Fashion

Banana Republic and Goop team up for capsule collection

Banana Republic has launched "The Goop Edit for Banana Republic" - a capsule collection created by the contemporary womenswear brand and lifestyle company. The collection marks the second collaboration between the two parties, who first joined forces in September 2019 to create a co-branded podcast series called Women on Top. The podcast aims to...