Gap Gives Up on Forth & Towne

After 18 months, Gap Inc. has decided its Forth and Towne concept isn't working.

Forth & Towne, which caters to middle-aged women, had been launched by former Gap CEO Paul Pressler who stepped down last month following a dismal holiday shopping season that worsened the decay that has been eroding Gap's sales since the spring of 2004.

While the company said it was encouraged by the brand's initial performance, a review revealed it wasn't showing enough potential to deliver an acceptable long-term return on investment.