Headlines

Old Navy CEO Is Out

Gap’s value brand also cuts its sales expectations

Published

2 years ago

April 22, 2022

VMSD Staff

Old Navy CEO Is Out — An Old Navy store entrance on Market Street in San Francisco. Credit: Sundry Photography, iStock

An Old Navy store entrance on Market Street in San Francisco. Credit: Sundry Photography, iStock

Old Navy CEO Nancy Green has exited the business, parent company Gap Inc. (San Francisco) announced.

Gap CEO Sonia Syngal will work closely with the Old Navy team until Green’s replacement is named. The company said its search is being conducted externally.

Gap also cut its sales guidance for the first quarter of fiscal 2022 from mid to high single digit year-over-year declines to approximately low to mid teens year-over-year declines. In a release, the company said the revised forecast was made “in light of the macro-economic dynamics as well as the execution challenges at the Old Navy brand.”

Related Topics:old navy specialty apparel

VMSD Staff

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