The revolving door keeps swinging at Gap Inc.
Banana Republic, though still experiencing declining sales as of late, since the fall has exhibited more stylish and appealing collections harking back to the brand’s safari-style roots. The brand needs to reclaim customers it lost over the years.
She rose to CEO of Gap Inc. in March 2020, right at the start of the pandemic, and the stock did show some increases for awhile, though the business and the stock started to decline heading into 2022. “Haio is a true multidisciplined retail leader who shares our vision of bringing the democracy of style and service to millions of Old Navy customers, leveraging our greatest assets — our people and our product. We are thrilled for Haio to bring his authentic leadership style to the team, backed by a strong track record of delivering growth through challenging times at complex global organizations,” said Martin.
For the past few years, Athleta has been the lone bright spot within the Gap Inc. family of brands. it continues to open stores and capture share in the active wear market, and is more moderately priced than Lululemon.Bob Martin is a 40-year industry veteran with extensive retail experience at corporations including Dillard’s Inc. and Walmart, where he served as CEO of its international division. He has served on the Gap Inc.
“My fellow board members and I want to thank Sonia for her steadfast leadership and many contributions to Gap Inc. during her 18 years with us. Most notably, amidst significant global disruption, social unrest and economic instability, Sonia had an immediate impact as Gap Inc. CEO, establishing a clear strategic direction and cultural identity that has united this global enterprise as a force for good with powerful brands poised to stand the test of time,” said Martin.
Furthermore, the company now anticipates second-quarter fiscal 2022 adjusted operating margin percentage to be zero to slightly negative.
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