Banana Republic’s president will depart in February
January 26, 2017 11:17 AM
Gap Inc. announced the departure of an executive with its Banana Republic brand who is credited with improving the brand’s cross-channel product assortment.
Andi Owen, who has been with Gap since 1991 and president of Banana Republic since January 2015, is leaving the company next month. No replacement has yet been named.
“Andi led critical work improving the brand’s aesthetic and product quality and moved the brand to a full omnichannel assortment,” Gap CEO Art Peck said. “While these improvements have been important steps forward, we have significant work to do in order to consistently win with customers. Andi and I agreed that now was an appropriate time for a change in leadership.”
Gap, No. 20 in the Internet Retailer 2016 Top 500 Guide, does not break out online sales in its financial statements for the company as a whole or at the brand level. According to data from web traffic measurement firm SimilarWeb, traffic to BananaRepublic.Gap.com grew by 1.6% year over year during the November-December holiday shopping period to 14,940,000 visits, up from 14,699,000 visits during the same period in 2015. Banana Republic posted an overall global comparable sales decline of 7% in December, compared with a 9% decline in December 2015.
Through the first nine months of fiscal 2016, overall sales at Gap Inc. are down 2.8% to $11.09 billion, from $11.41 billion during the same period last year.