Banana Republic is still working through its growing pains under the creative direction of Marissa Webb, whose first collection for the brand failed to resonate with customers when it hit stores in April. Gap Inc. said Monday afternoon that Banana's comparable sales for the second quarter, which ran to August 1, were down another 4 percent — having taking a 10 percent dip in July after a small but heartening uptick in June. Luck and good design willing, the fall product beginning to hit stores might prove more appealing to shoppers.
Gap Inc.'s namesake brand isn't looking too hot, either, having experienced quarter after quarter of slumping sales. (After parting ways with creative director Rebekka Bay, the company installed new executive leadership for design in February in an effort to turn things around.) For July, Gap's sales were down 7 percent, against negative 2 percent the year before.
Per usual, the only bright spot here was Old Navy, which saw its own sales grow 3 percent both for the month of July and in the second quarter. We'll have more details on why all of this panned out as it did on August 20, when Gap Inc. releases its full quarterly statement, but until then, rest well knowing that little has changed at the ailing retailer.