February 12, 2018
Gap Inc. is closing its New York City headquarters for its Banana Republic brand and moving the design, HR, operations and communications divisions to Gap's San Francisco offices this May.
The action, as reported by the New York Post, was revealed in a government filing.
"Banana Republic's challenges have been clear for some time and the ability to save costs by consolidating the business into the corporate headquarters is probably an action among many possibilities management has been entertaining," Nomura Instinet analyst Simeon Siegel told the Post.
