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President of struggling Banana Republic to depart


The search is on for a new president of Banana Republic, which has had a hard time finding its footing amid dismal same-store sales results.

Gap Inc. said Tuesday that company veteran Andi Owen, global brand president for Banana Republic, will leave the retailer in late February. Gap CEO Art Peck will directly oversee the brand until the company finds a replacement.

Owen joined Gap Inc. in 1991 and has held a wide variety of leadership roles at the company, including executive VP and general manager for Gap Global Outlet and senior VP and general manager for Banana Republic Factory Stores. She has headed up Banana Republic since 2015.

“Andi has been an accomplished leader at Gap Inc. playing a number of key roles across Banana Republic, Old Navy and Gap,” said Peck. “During her time with Banana Republic, Andi led critical work improving the brand’s aesthetic and product quality and moved the brand to a full omnichannel assortment. 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.”

Banana Republic reporting a 7% decline in same-store sales for the critical month of December.
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