Banana Republic CEO Sandra Stangl is leaving the company, WWD has reported, citing a Gap spokesperson.

Before joining Banana Republic, Stangl co-founded and served as the chief merchant of Mine.

She also previously served as president at Restoration Hardware and as president and EVP at Pottery Barn Kids and Pottery Barn Teen.

In March, Gap CEO Richard Dickson said the company was “focused on reestablishing this brand to thrive in the premium lifestyle space”.

Dickson added that “2024 will be about getting back to the basics, both for product and execution”.

“This includes a focus on go-to wardrobe pieces and BR classics like sweaters, oxfords, suit separates and khakis, those products that Banana Republic has been known for and will be again.”

Jessica Ramírez, a senior research analyst with Jane Hali & Associates, told Retail Dive that higher-ticket items and furnishings sales won’t really recover until the housing market does.

“It doesn’t make sense to be running a home business in today’s environment. You want to have a strong women’s business, because women are the ones who spend, and women’s overall is a much bigger market.”