Find in the news:
BY COUNTRY

The Position of Gap CEO has become Vacant Again



Art Peck resigns as CEO of Gap Inc., closing another chapter in the complicated history of the once-legendary retailer.
GAP storefront in Westfield London

It is reported that Peck will also free up a seat on the board of directors of the company. Robert J. Fisher, the son of brand founder Donald Fisher, who has worked for the company for more than 35 years, was appointed acting CEO. Also, the Board of Directors appointed Bobby Martin, Chairman of the Remuneration and Management Development Committee, as a leading independent director.

Peck has been with the company for almost 15 years and was appointed CEO in 2015. It was under his leadership that the Old Navy brand, which was established in 1994 as a budget brand, began to be promoted, and it was expected that this would help to increase the company's revenue. In practice, however, this step only added to the problems of the leading brand. As Gap struggled for survival and closed the stores, Old Navy brand grew rapidly. As a result, it was decided to allocate an aggressive newcomer to a separate company, and this process should be fully completed in 2020. 

Saying goodbye to Peck, representatives of Gap traditionally thanked him for his significant contribution to the development of the company. In this case, it was about "expanding customer service across all channels and increasing our digital capabilities. But the reason for leaving was not mentioned. However, it is not difficult to guess that the reason for Peck's departure was the disappointing results of the company in all areas. Recent financial reports have shown a reduction in revenues in all regions - Gap Global, Banana Republic Global, and Old Navy Global. What can I say, the value of the company's shares has almost halved during Pek's reign. The sales forecasts for the rest of the year have been cut.

It should be noted that Peck was the highest-paid CEO in the modern retail world. According to some reports, in 2018 alone, its revenues exceeded $20 million. Most likely, he will remain in Gap, but in less prominent positions.

Meanwhile, after the CEO's resignation, the company's shares fell by 12%.



More about shopping malls in the USA



Nov 13, 2019, USA:
Starbucks Reserve Roastery Chicago will cover an impressive area of 35,000 square feet.
Nov 12, 2019, Spain:
Three operators were signed for an ambitious €800m project intu Costa del Sol in the south of Spain.
Oct 31, 2019, USA:
Fashionable search platform Lyst has published a rating of the most popular fashion brands in the world market in the third quarter of 2019.
Oct 28, 2019, USA:
The total area of the mall is about 2 million square meters, more than half of which will be occupied by entertainment operators.
Oct 28, 2019, France:
Candidates for prestigious awards include Intu Costa del Sol (Spain), Central Phuket (Thailand) and FICO Eataly World (Italy).
Oct 25, 2019, United Kingdom:
Adidas opened the doors to one of its most innovative stores in the world.
ICSC ECE

Friend
and Follow
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia
FAN Mallorca Shopping GLA:592 015 SF
ADDRESS: C/ Cardenal Rossel, S/N. 07007 Palma de Mallorca
Spain . Palma
FAN Mallorca Shopping
Asheville Outlets GLA:325 000 SF
ADDRESS: 800 Brevard Road, Asheville, NC 28806
USA . Asheville
Asheville Outlets


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