Home / Knowledge / News / Fashion / 'Women's clothing woes to blame for Banana Republic slump'
'Women's clothing woes to blame for Banana Republic slump'
12
Oct '15
American Gap Inc. CEO Art Peck has blamed poor-fitting women's clothing for a lingering slump at the retailer's Banana Republic chain, which just posted another month of plunging sales, according to a Bloomberg report.

Banana Republic's same-store sales -- a closely watched measure -- tumbled 10 per cent in September, the San Francisco-based company has said. That was far worse than the 5.6 per cent drop predicted by Retail Metrics and marked the seventh decline in eight months.

“I've been disappointed in the women's product in Banana Republic,” Peck said in an interview. Customers are “being clear that it doesn't fit well. It's not as versatile or flattering as it should be given the price point.”

Gap also said on Thursday that Banana Republic's creative director will step down from her day-to-day role at the chain. Marissa Webb, who took the job in April 2014, will focus more on her personal label. The retailer hired Webb, formerly at J. Crew, to help restore Banana Republic's fashion credibility.

Peck has been reshuffling the retailer's leadership since taking the helm in February, including naming new brand presidents at the Gap and Banana Republic chains. His comeback effort was dealt a blow last week, when Old Navy Global Brand President Stefan Larsson was lured away to become CEO of Ralph Lauren Corp. Jill Stanton will take over as interim head of Old Navy, which has been Gap's best-performing brand recently.

Peck said he expects to see improvement in Banana Republic's product in the spring, the same time frame as the turnaround planned for the Gap chain.

Same-store sales at the Gap brand were unchanged in September from a year earlier. That was better than the 6.2 per cent decline analysts had predicted. Sales at Old Navy, meanwhile, grew 4 per cent, missing estimates for a 5.6 per cent gain. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search