Find in the news:
BY COUNTRY

Chief executive of Gap set to resign during February



The US retail clothing chain, Gap, revealed on Wednesday that its chief executive officer is due to step down
Glenn Murphy is set to resign as chief executive and chairman in February after holding the positions for more than seven years. He is due to be replaced by the current digital leader, Art Peck, who has been with company since 2005.

News related to the change in management came as the company reported weak same-store sales during September.  The weak sales in the Gap brand is expected to damage third quarter margins in the company.

The firm, based in San Francisco, is also the owner of clothing retail chain stores Banana Republic and Old Navy.
Since Mr. Murphy accepted his role during July 2007, the market value of Gap has almost trebled, with its earnings doubling during that period.

However, the revenue growth of the company has not been adequate in the US market, and this has resulted in announcements that the company is considering expansion into emerging markets, such as China and India.
The company stated that it would open 40 stores in India and open an additional 30 in China to reach a total of 110 in the country.

Mr. Murphy stated that his decision to retire came after he was unable to commit his leadership of the company for the next several years. Art Peck, 58, was formerly the head of the North American operation of Gap during 2011 and 2012.  The region is responsible for more than 75% of the revenue of the retail brand.



Related shopping malls and stores:

More about shopping malls in the USA

May 28, 2020, USA:
Adidas and AllBird have announced a partnership aimed at creating new environmentally friendly technologies.
May 27, 2020, France:
French chain of department stores Galeries Lafayette has announced a new service for customers during the closing of stores.
May 27, 2020, USA:
The chain of coffee shops adapts to the realities of the post-quarantine world and focuses on drive-thrus, self-service, and delivery.
May 26, 2020, Italy:
Due to the sharp decline in interest in fashion in the midst of the pandemic, the company is abandoning the traditional calendar of shows and moving to an off-season schedule.
May 26, 2020, Germany:
The masks to protect against coronavirus are called Face Covers and are made from recycled materials.
May 25, 2020, United Kingdom:
Due to the coronavirus pandemic, more and more customers are adopting the habits of the younger generation and do not want to constantly change their wardrobe.
Friend
and Follow
Mall of Tripla GLA:914 932 SF
ADDRESS: Veturitie 13
Finland . Helsinki
Mall of Tripla
K in Lautern GLA:224 966 SF
ADDRESS: 67655 Kaiserslautern
Germany . Kaiserslautern
K in Lautern
Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us