Gap Inc.

Gap Inc. CEO to Step Down; Old Navy Names New President/CEO

by Katie Lee July 12, 2022

San Francisco — Gap Inc.’s president and chief executive officer, Sonia Syngal, will step down from her position and from the company’s board, departing the company following a brief transition. In other executive leadership news, Horacio (“Haio”) Barbeito will serve as president and CEO of Old Navy. Effective immediately, Bob Martin, the company’s current executive chairman of the board, will serve as Gap Inc. president and CEO on an interim basis. Mayo Shattuck will continue to serve as lead independent director. “Leading this great company since 2020, through unprecedented challenges …

July 12, 2022

News people retailers

Old Navy President & CEO Departs

by Katie Lee May 4, 2022

San Francisco — Old Navy’s president and CEO, Nancy Green, recently exited the business. While an external search is underway, Gap Inc. CEO Sonia Syngal will work closely with the Old Navy team to lead through this transition until a new brand president is identified. “We believe in the power and potential of the Old Navy brand and the contribution it will have as we execute our Power Plan strategy and drive value creation at Gap Inc.,” says Syngal. “As we look to seize Old Navy’s potential, particularly amidst the …

May 4, 2022

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Gap’s First Quarter Sales Increase 28%, Net Sales Hit $4 Billion

by Katie Lee June 2, 2021

San Francisco — Gap Inc., the parent company of Old Navy, Gap, Banana Republic and Athleta, released its first-quarter 2021 fiscal report showing net sales reached $4 billion, up 8% from 2019. Additionally, comparable sales were up 28% year-over-year and rose 13% since pre-pandemic 2019. The company showed strong increases in net sales at Old Navy and Athleta — 27% and 56% increase over 2019, respectively. There were declines in net sales at Gap Global (16%) and Banana Republic Global (29%). Old Navy’s comparable sales were up 35% year-over-year and …

June 2, 2021

News retailers

Gap Inc. Plans to Sell Janie and Jack

by Katie Lee March 29, 2021

San Francisco — Gap Inc. has entered into an agreement to sell Janie and Jack, a leader in premium children’s fashion with about 115 stores, to Go Global Retail, an investment platform in the fashion and consumer brand sector. Go Global Retail intends to acquire the entire Janie and Jack business, including the e-commerce platform, all store leases and assets. “We are thrilled to acquire an incredible brand like Janie and Jack from the Gap. Our plan is to expand the company’s digital capabilities and accelerate online growth globally,” says …

March 29, 2021

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Tommy Hilfiger Appoints Global Chief Marketing Officer

by Katie Lee March 26, 2021

Amsterdam, The Netherlands — Tommy Hilfiger, which is owned by PVH Corp., has appointed Alegra O’Hare as chief marketing officer, Tommy Hilfiger Global, effective April 12, 2021. She joins the company from Gap Inc. “Alegra’s appointment is a crucial next step in this new era for TOMMY HILFIGER,” says Avery Baker, president and chief brand officer, Tommy Hilfiger Global. “She will be a driving force in bringing our new brand vision to life through world-class creative, digital and omnichannel marketing strategies.” O’Hare brings over 25 years’ marketing experience, working with …

March 26, 2021

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Gap Inc. to Build $140 Million Distribution Center in Longview, Texas

by Katie Lee February 25, 2021

San Francisco — Gap Inc. plans to open a new state-of-the-art Customer Experience Center in Longview, Texas. By delivering inventory faster and more efficiently to customers across the country, the $140 million investment will help Gap Inc. meet the rising customer demand for online shopping and reach its future plans for digital growth. Gap Inc. anticipates the new campus will create more than 500 full-time jobs in Longview by the end of 2023 and will grow to more than 1,000 full-time jobs in the city over the next 5 years. …

February 25, 2021

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Gap Inc. Appoints New Chief Growth Officer and New President and CEO of Banana Republic

by Katie Lee November 30, 2020

San Francisco — Gap Inc. has hired Asheesh Saksena to join the Gap Inc. senior leadership team as chief growth officer, a newly created position that will focus on executing the company’s strategic agenda, as well as leading growth initiatives for the future. In addition, the company also named Sandra Stangl as the new president and CEO of Banana Republic. Saksena most recently served as president of Best Buy Health where he led the formation and operation of the brand’s strategic diversification into digital health after serving as the company’s …

November 30, 2020

News retailers

Gap Inc. to Shutter 350 Stores, Transition Focus from Malls to E-Commerce

by Katie Lee October 23, 2020

San Francisco — Gap Inc., a longtime apparel tenant in enclosed regional malls nationwide, has announced plans to close 350 stores under its Banana Republic and Gap banners in an effort to transition focus to e-commerce and off-mall retail locations. Store closures are scheduled for completion by fiscal year 2023, which ends Feb. 1, 2024, with 75% scheduled to close in 2021. By that time, the company expects 80% of its revenue to come from e-commerce and off-mall locations, including street-front retail stores and shops in strip and outlet centers. …

October 23, 2020

News people retailers

Gap Inc. Confirms New President and CEO of Old Navy

by Katie Lee October 9, 2020

San Francisco — Gap Inc. has appointed Nancy Green as the president and CEO of Old Navy, the company’s largest brand. Green will report to Sonia Syngal, CEO of Gap Inc., and will serve on the company’s senior leadership team. Green has served as interim head of Old Navy since March and was previously president and chief creative officer of the brand. “Nancy is a visionary leader who brings deep customer empathy to her role every day. She has led the brand through one of the most challenging periods in …

October 9, 2020

News people retailers

Bed Bath & Beyond Appoints Retail Veteran to Regional VP

by Katie Lee September 9, 2020

Union, N.J. — Bed Bath & Beyond Inc. has appointed Rick Wilkins as regional vice president for the West region, effective immediately. He will report directly to Gregg Melnick, executive vice president (EVP) and chief stores officer, and will play a key role in the planning and execution of the company’s store optimization strategy. Wilkins will oversee operations for approximately 300 of Bed Bath & Beyond’s retail stores across 20 states, and execute the previously announced store optimization plan as the company continues to enhance its digital-first, omni-always shopping experience online and in-store. He will …

September 9, 2020

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