Gap appoints a new Old Navy CEO to revive sluggish sales
Executive summary: Gap Inc. appointed a new CEO for its Old Navy division to tackle declining sales. Old Navy is a major revenue driver for Gap; its underperformance has weighed on the company's overall results and stock price.
Who is involved: Gap Inc., the Old Navy brand, and the newly appointed CEO (name not disclosed in the excerpt).
Likely next: Gap will report upcoming quarterly earnings, providing early evidence of whether the leadership change improves Old Navy's sales trajectory.
Gap Inc. has named a new chief executive for its Old Navy brand in an effort to address weak sales performance. The move comes amid ongoing store closures and investor pressure to improve the apparel retailer's financial results. Analysts will watch whether leadership change translates into measurable sales growth.
Timeline
- — Gap closed 350 stores and now has an Old Navy problem (Yahoo Finance)
- — Gap Taps New Old Navy CEO to Turn Around Sluggish Sales (Yahoo Finance)
Analysis — what this means
Sectors affected
- apparel retail
- Old Navy brand
Sources
- Gap Taps New Old Navy CEO to Turn Around Sluggish Sales — Yahoo Finance
- Gap closed 350 stores and now has an Old Navy problem — Yahoo Finance