REAL ESTATE

Gap debuts first Banana Republic flagship in France

BY Katherine Boccaccio

Paris — Gap Inc. announced Thursday the opening of its first Banana Republic store in France, located in Paris on Avenue des Champs Élysées.

The 15,952-sq.-ft. space will house the brand’s women’s and men’s collections. “We are thrilled to open our first Banana Republic store in France — a brand-building flagship in Paris — and reach yet another important milestone for our international growth strategy,” said Stephen Sunnucks, president, International, Gap Inc.

The flagship store is part of Gap Inc.’s burgeoning international growth strategy, which includes a 2010 Banana Republic opening in Milan, Italy, a Banana Republic franchise store debut in Moscow earlier this year, and the launch of a dedicated e-commerce site that now services 21 European countries.

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OPERATIONS

Brand presidents named for Dressbarn and Maurices

BY Staff Writer

Suffern, N.Y. — Ascena Retail Group said Thursday it has appointed Jeff Gerstel as president of Dressbarn, and named George Goldfarb as president of its Maurices brand, both effective immediately.

The new executives will report to David Jaffe, president and CEO of Ascena Retail Group.

Gerstel joined Dressbarn in 2006 as senior VP operations and most recently served as executive VP and COO.

Goldfarb joined Maurices in 1985, was named CFO in 2003, and most recently was its executive VP and COO.

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FINANCE

Conn’s posts wider Q3 loss, names new president

BY Katherine Boccaccio

Beaumont, Texas — Conn’s Inc. reported Thursday that losses in the third quarter widened to $12.7 million from $4.8 million a year ago.

Sales rose 5% to $179.5 million.

The electronics retailer also announced that it made Theodore M. Wright its permanent president and CEO. He had been the company’s interim president and CEO since February 2011.

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