The twist isn't resonating with consumers. Banana Republic's efforts to appeal to a younger demographic have it looking more like a high-priced Forever 21 than a stylish, go-to destination.
Comparable-store sales – those in stores open at least a year – fell 12% in the third quarter, the company said last week.
Even Peck seemed frustrated.
"I am very disappointed by the deceleration that we have seen, particularly with Banana in the back half," he said on the company's third-quarter earnings call on Thursday. "That's been a real disappointment to me, and a bit of a surprise."
We went to the store to see why Banana Republic is struggling. A representative for Gap decline to comment further for this story.
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