Banana Republic news and archive

Gap registers positive Q3, lifts outlook

Gap’s third quarter net sales of 3.8 billion dollars were up 2 percent compared to last year and comparable sales were up 1 percent year-over-year. As a result of its strong third quarter results, the company is raising its full year outlook for net sales, gross margin and operating income growth compared to prior expectations. "I'm proud that...

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Gap reports strong Q2, increases outlook

Gap net sales for the second quarter of 3.7 billion dollars were up 5 percent with comparable sales up 3 percent year-over-year. Increasing its gross margin and operating income outlook for the year ahead, the company said it expects FY24 operating income in the 50’s growth range and gross margin expansion of 200 bps. "In comparison to where we...

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Gap's turnaround plan boosts Q1 performance, raises outlook

First quarter net sales of 3.4 billion dollars at Gap were up 3 percent with comparable sales up 3 percent year-over-year. Store sales for the quarter increased 3 percent and online sales increased 5 percent. As a result of its strong first quarter results, the company is increasing its outlook for fiscal 2024, reflecting higher net sales and...

Gap reports positive fourth quarter results

Gap’s fourth quarter net sales of 4.3 billion dollars were up 1 percent, with comparable sales flat year-over-year. Net sales for the full year of 14.9 billion dollars were down 5 percent, while comparable sales down 2 percent. For the fiscal year 2024, the company forecasts net sales to remain flat, gross margin expansion of 50 basis points,...

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Gap forecasts flat holiday quarter ahead

Gap reported third quarter net sales of 3.8 billion dollars, down 7 percent compared to last year, inclusive of an estimated 2 percentage points negative impact from the sale of Gap China. Comparable sales for the quarter were down 2 percent. The company is estimating fourth quarter net sales to be flat to slightly negative compared to last year...

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Banana Republic launches capsule collection with Peter Do

Premium fashion and lifestyle retailer Banana Republic, part of Gap Inc., has launched an exclusive capsule collection in collaboration with fashion designer Peter Do. The 28-piece collection, dubbed ‘BR x Peter Do’ has been designed by New York-based designer Peter Do and draws inspiration from the Banana Republic archives to offer “a new...

Business

Banana Republic enters homeware category

Lifestyle brand Banana Republic has begun a new venture into the homeware category with the launch of its new ‘BR Home’ division. The collection spans bedroom, living room and dining room, and includes furniture, lighting and home décor, each of which follow three key expressions that represent individual design aesthetics; textured modern,...

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Gap posts Q2 profit but sales decline 8 percent

Net sales at Gap Inc. of 3.55 billion dollars, were down 8 percent compared to last year, while comparable sales were down 6 percent. Reported net income was 117 million dollars; while reported diluted earnings per share were 32 cents. The company reported adjusted net income of 127 million dollars, and adjusted diluted earnings per share were...

Fashion

Peter Do to collaborate with Banana Republic

Banana Republic has revealed its forthcoming exclusive capsule collaboration with renowned New York-based fashion designer, Peter Do. The collaboration, set to debut this Fall, will amalgamate the ethos of both American brands, accentuating the significance of sartorial choices and how to dress. Grounded in the principles of versatility,...

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Gap narrows Q1 losses despite drop in sales

US fashion and lifestyle giant Gap reported a 6 percent drop in sales in the first quarter of the year, but its stock price jumped as its losses narrowed. In the three months ended April 29, the retailer made sales of 3.28 billion dollars compared to the 3.48 billion dollars it reported a year earlier amid a backdrop of rising inflation and...

Business

Banana Republic launches expanded homeware selection

Banana Republic (BR), a Gap Inc. Brand, announced the expanded collection of BR Home, a selection of lifestyle and homeware pieces. With the intention to further establish itself as a premium lifestyle brand, Banana Republic launched a spring collection containing bedding, rugs, pillows, and decor, which builds on its fall collection, ‘Art,...

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Gap reports tough Q4, rejigs leadership team

Fourth quarter net sales at Gap, Inc. of 4.24 billion dollars, were down 6 percent compared to last year, and comparable sales were down 5 percent. The company’s store sales decreased 3 percent compared to last year, while online sales decreased 10 percent and represented 41 percent of total net sales. For the full year, the company’s net sales...