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Gap Sept. sales down, names Banana head

10/11/2007

SAN FRANCISCO Gap Inc. today reported net sales of $1.43 billion for the five-week period ended Oct. 6, which represents a 3% decrease compared with net sales of $1.46 billion for the five-week period ended September 30, 2006. The company reported that comparable-store sales for September 2007 decreased 7% compared with a 3% decrease as reported in September 2006.

The company today also announced that Jack Calhoun has been appointed president of Banana Republic, effective immediately. Calhoun has been serving as interim president since February when his predecessor, Marka Hansen, was appointed president of Gap North America. He will continue to report to Gap Inc. chairman and ceo Glenn Murphy.

“Over the past four years, Jack has established a strong track record within Banana Republic that’s enhanced our accessible luxury brand aesthetic,” Murphy said today. “Jack’s leadership of the brand, marketing expertise and merchandising contributions demonstrate that he’s the right leader to build upon the brand’s success.”

Calhoun joined Banana Republic as evp of marketing in 2003. In 2005 he was given additional responsibilities for non-apparel merchandising, including Banana Republic’s line of personal care products and handbag collection.

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