Banana Republic

Gap’s First Quarter Sales Increase 28%, Net Sales Hit $4 Billion

by Katie Lee June 2, 2021

San Francisco — Gap Inc., the parent company of Old Navy, Gap, Banana Republic and Athleta, released its first-quarter 2021 fiscal report showing net sales reached $4 billion, up 8% from 2019. Additionally, comparable sales were up 28% year-over-year and rose 13% since pre-pandemic 2019. The company showed strong increases in net sales at Old Navy and Athleta — 27% and 56% increase over 2019, respectively. There were declines in net sales at Gap Global (16%) and Banana Republic Global (29%). Old Navy’s comparable sales were up 35% year-over-year and …

June 2, 2021

Gap Inc. Appoints New Chief Growth Officer and New President and CEO of Banana Republic

by Katie Lee November 30, 2020

San Francisco — Gap Inc. has hired Asheesh Saksena to join the Gap Inc. senior leadership team as chief growth officer, a newly created position that will focus on executing the company’s strategic agenda, as well as leading growth initiatives for the future. In addition, the company also named Sandra Stangl as the new president and CEO of Banana Republic. Saksena most recently served as president of Best Buy Health where he led the formation and operation of the brand’s strategic diversification into digital health after serving as the company’s …

November 30, 2020

News retailers

Gap Inc. to Shutter 350 Stores, Transition Focus from Malls to E-Commerce

by Katie Lee October 23, 2020

San Francisco — Gap Inc., a longtime apparel tenant in enclosed regional malls nationwide, has announced plans to close 350 stores under its Banana Republic and Gap banners in an effort to transition focus to e-commerce and off-mall retail locations. Store closures are scheduled for completion by fiscal year 2023, which ends Feb. 1, 2024, with 75% scheduled to close in 2021. By that time, the company expects 80% of its revenue to come from e-commerce and off-mall locations, including street-front retail stores and shops in strip and outlet centers. …

October 23, 2020

News people retailers

Gap Inc. Names New Global Head of Banana Republic

by Katie Lee March 15, 2017

San Francisco — Gap Inc. has appointed Mark Breitbard as president and chief executive officer of Banana Republic. Previously, he was CEO of The Gymboree Corporation.

March 15, 2017

News people retailers

Banana Republic Brand President To Depart Gap Inc.

by Katie Lee January 30, 2017

San Francisco — Andi Owen, global brand president of Banana Republic, will leave Gap Inc. in late February. While a search is underway for Banana Republic’s next president, Gap Inc. CEO Art Peck will directly oversee the brand.

January 30, 2017

News

Gap Inc. Opens First Banana Republic Flagship in France

by Nate Hunter December 9, 2011

Paris — Gap Inc. has opened its first Banana Republic store in France. The flagship store is located in Paris on Avenue des Champs Élysées.

December 9, 2011

News

Gap Inc. Brings Its First Gap Flagship Store To Rome

by Nate Hunter July 29, 2011

Rome — On July 30, Gap Inc. opened its first flagship store in Rome, Italy, on Via del Corso, the city’s premier shopping district. The company plans to open four more stores in Italy this year.

July 29, 2011

News

Gap Inc. Prepares To Open Its First Stores in Africa

by Nate Hunter July 5, 2011

San Francisco — As part of its global expansion strategy, Gap Inc. plans to open its first Gap store in Egypt this month and its first Gap and Banana Republic stores in Morocco this October.

July 5, 2011

News

Gap Inc. Plans to Expand Global Growth

by Nate Hunter April 19, 2011

London — Gap Inc. plans to open approximately 190 stores worldwide in the year ahead, as well as the first Old Navy stores outside of North America by the end of 2012.

April 19, 2011