Banana Republic news and archive

Gap Inc confirms Banana Republic is returning to the UK

Gap Inc. confirms that Banana Republic and Athleta will start selling within the UK and Ireland again through its joint venture with Next announced in September 2021, where Next owns 51 percent and Gap owns 49 percent. The move builds on the success of the Gap partnership, which has seen the apparel brand reintroduced to the British high street...

21 Nov 2022

BusinessFeatured

Gap posts profit as Q3 sales increase

Third quarter net sales at Gap Inc. of 4.04 billion dollars, were up 2 percent compared to last year, while comparable sales were up 1 percent year-over-year. The company's reported net income was 282 million dollars and adjusted net income was 260 million dollars. The company anticipates that total company net sales could be down mid-single...

18 Nov 2022

BusinessFeatured

Gap remains 'cautiously optimistic' about FY22 results

Second quarter net sales of 3.86 billion dollars, were down 8 percent at Gap Inc. compared to last year, while comparable sales were down 10 percent year-over-year. While the company is making progress balancing its assortments, it remains cautiously optimistic in light of the consumer environment as it relates to its revenue in the second half...

26 Aug 2022

BusinessFeatured

Gap CEO Sonia Syngal steps down as sales continue to decline

Gap Inc. has announced the departure of president and chief executive officer Sonia Syngal. The company said in a release that effective immediately, Bob Martin, the company's current executive chairman of the board, will serve as Gap Inc. president and chief executive officer on an interim basis. Mayo Shattuck will continue to serve as lead...

12 Jul 2022

BusinessFeatured

Gap lowers FY22 outlook after tough Q1 trading

Gap has reported a 13 percent year-over-year drop in sales to 3.5 billion dollars in the first quarter of the year, with comparable sales down 14 percent. Online sales at the US fashion giant declined 17 percent, while its store sales were down 10 percent. The company swung to a net loss of 162 million dollars from a net profit of 166 million...

27 May 2022

Business

Banana Republic set to close UK website

Banana Republic has announced it will be closing its UK website from May 31, ending the brand’s presence in the UK. In a message on its website, Banana Republic said it was to close from 11:59pm, adding: “Until then, please continue to shop the site. We sincerely thank you for your loyalty and business”. Anyone looking to shop with the brand...

21 Apr 2022

Business

Banana Republic launches in Australia

In a continuation of its expansion strategy, Banana Republic has opened its doors to the Australian market, both online and through premium retailer David Jones. Established with distribution partner True Alliance, the brand’s AW21 collection is now available through its own website, as well as David Jones’ website and select stores, allowing...

21 Mar 2022

BusinessFeatured

Gap posts profit in FY21, reveals positive earnings forecast

Gap Inc. said reported diluted loss per share for the fourth quarter was 4 cents, while adjusted diluted loss per share was 2 cents. Fiscal year 2021 reported diluted earnings per share were 67 cents and adjusted diluted earnings per share were 1.44 dollars. The company’s fourth quarter net sales of 4.5 billion dollars were down 3 percent...

4 Mar 2022

Business

Gap increases annual dividend by 25 percent

Gap Inc. board of directors has approved plans to increase the company’s annual dividend per share to 60 cents in fiscal year 2022, a 25 percent increase from the company’s current annualized rate of 48 cents. The company announced that its board of directors has authorized a first quarter fiscal year 2022 dividend of 15 cents per share, payable...

25 Feb 2022

Fashion

Banana Republic expands into babywear and athletics

Gap-owned Banana Republic is continuing to revamp its image and has now introduced two new lifestyle categories to its mix. Through collections that draw influence from its own heritage, the retailer has expanded its assortment to include BR Baby and BR Athletics in a bid to refresh its connection with its buyer group. BR Baby’s 40-piece...

24 Feb 2022

BusinessFeatured

Supply chain disruptions impact Gap's Q3

Gap Inc. reported a third quarter fiscal year 2021 diluted loss per share of 40 cents. The company said, third quarter net sales of 3.9 billion dollars were down 1 percent compared to 2019 with supply chain disruption driving an estimated 8 percentage point negative impact due to constrained inventory. The company noted that while supply chain...

24 Nov 2021

Business

Banana Republic's chief brand officer departs

WWD has reported that Banana Republic’s chief brand officer Ana Andjelic has exited the company after only nine months in her position. No explanation has been provided for Andjelic’s departure, but it has thrown into question whether Banana Republic’s attempt at repositioning is working. Andjelic oversaw Banana Republic’s design team....

12 Nov 2021