Gap Inc. (GPS) said another merchandising veteran will return to
the company as it looks to turn around its tepid sales.
The retailer said Julie Rosen, a 15-year employee of the
company, will return to lead product merchandising for its $2.4
billion upscale Banana Republic chain. She'll follow Mark
Breitbard, who rejoined Gap earlier this year to head merchandising
at Old Navy.
Like other retailers, Gap has been struggling as shoppers remain
skittish about spending money during the recession. But the
company's troubles started before that, when its attempt to appeal
to a younger demographic with trendier clothes fell flat. The
Banana Republic unit saw the steepest drop among Gap brands in
March same-store sales at 16%.
Rosen held a similar role at Banana Republic during much of the
1990s and was also head of merchandising for the Gap brand before
leaving the company in 2006. Since then, she has served as a
strategic consultant to several retail brands including Nike Inc.
(NKE).
"Julie is a tremendously talented merchant and leader who keenly
understands our brand and customer," said Banana Republic President
Jack Calhoun. "We're thrilled to have her back, especially during
these challenging economic times for consumers where product
differentiation and distinct assortments are so vital to a brand's
success."
Breitbard, who had been president of the retail division at Levi
Strauss & Co., returned as chief merchandising and creative
officer at the Old Navy unit, which is trying to turn around the
brand by targeting young mothers on a budget rather than
fashion-conscious young women. He held various merchandising roles
at Gap between 1997 and 2005.
Gap shares fell 2.8% to $16.47 in recent trading but have risen
23% so far this year.
-By Lauren Pollock, Dow Jones Newswires; 201-938-5964;
lauren.pollock@dowjones.com