Banana Republic 2005 Annual Report Download - page 10

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Great fashion at a great price in a fun shopping
environment is the hallmark of Old Navy.
But in competing specifi cally against value-based
retailers in 2005, we had to strengthen our price
offering and communicate more aggressively. As
a result, our product and merchandising became
less differentiated in the eyes of our customers.
This year, we’re readjusting that balance and
reinvigorating our product, store experience and
marketing.
This renewed focus on our specialty proposition is
inspiring our merchants to bring a strong point
of view to our stores
through more on-trend
product assortments.
For instance, we launched
Old Navy Special Edition
denim during the holidays
to meet the increasing
customer demand for uniquely styled jeans. Today,
our denim products feature better washes, details
and embroidery.
We are further highlighting our great product through
an improved in-store experience and creative
marketing.
In order to better showcase product and make
our stores easier to shop, we reduced the number
of signs in our stores and are also replenishing
merchandise more quickly.
During the year, we expanded our marketing
mix to include new in-store promotions, such as
our famous “Scratcher” games, that helped bring
customers—and fun—to Old Navy stores.
We also continued to reach out to new customers
by rolling out Old Navy Maternity to more than 100
stores, improving our plus-size offerings, and open-
ing more than 70 new stores in the United States
and Canada.
Although it will take some time to see results, we’re
working hard to get these elements right. For us,
there’s nothing better than bringing fun, fashion and
value to the whole family.
Great fashion at a great price
in a fun shopping environment is
the hallmark of Old Navy.
8 gap inc. 2005 annual report