|
|
Article: Banana Republic's performance taints the Gap's profit picture.
- Article from:
- Daily News Record
- Article date:
- March 9, 1989
- Author:
CopyrightCOPYRIGHT 1989 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Banana Republic's Performance Taints the Gap's Profit Picture NEW YORK (FNS) -- The Banana Republic, which just two years ago was the hottest retail concept around -- with men's wear as its core -- is now eating away at its parent company's profits as it seeks to find the proper balance between men's and women's wear.
In releasing financial figures earlier this week, the Gap, parent of Banana Republic, reported fourth quarter earnings rose 48.6 percent and 6.7 percent for the year.
Despite strong performances by GapKids and Gap stores, same-store sales at Banana Republic were down, according to the company. Analysts said that the Banana Republic showed a ...