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Gap CEO Blames Women's Clothing Woes for Banana Republic Slump

Arthur 'Art' Peck, chief executive officer of Gap.

Gap Inc. Chief Executive Officer Art Peck blamed poor-fitting women’s clothing for a lingering slump at the retailer’s Banana Republic chain, which just posted another month of plunging sales.

Banana Republic’s same-store sales -- a closely watched measure -- tumbled 10 percent in September, the San Francisco-based company said on Thursday. That was far worse than the 5.6 percent drop predicted by Retail Metrics and marked the seventh decline in eight months.

“I’ve been disappointed in the women’s product in Banana Republic,” Peck said in an interview. Customers are...


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