{"id":436180,"date":"2022-04-22T18:59:37","date_gmt":"2022-04-22T15:59:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gap-shares-plunge-20-as-old-navy-ceo-nancy-green-exits\/"},"modified":"2022-04-22T18:59:37","modified_gmt":"2022-04-22T15:59:37","slug":"gap-shares-plunge-20-as-old-navy-ceo-nancy-green-exits","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gap-shares-plunge-20-as-old-navy-ceo-nancy-green-exits\/","title":{"rendered":"#Gap shares plunge 20% as Old Navy CEO Nancy Green exits"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40ee2372a94\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40ee2372a94\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/gap-shares-plunge-20-as-old-navy-ceo-nancy-green-exits\/#%E2%80%9CGap_shares_plunge_20_as_Old_Navy_CEO_Nancy_Green_exits%E2%80%9D\" >&#8220;Gap shares plunge 20% as Old Navy CEO Nancy Green exits&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CGap_shares_plunge_20_as_Old_Navy_CEO_Nancy_Green_exits%E2%80%9D\"><\/span>&#8220;Gap shares plunge 20% as Old Navy CEO Nancy Green exits&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Gap shares plunged more than 20% on Friday after the mall-based clothing giant slashed its sales forecast and said the CEO of its Old Navy chain is leaving the company.<\/p>\n<p>The abrupt departure of Nancy Green, who was named chief executive of Old Navy nearly three years ago and had held senior leadership positions at Gap since 2009, came amid steeper-than-expected sales declines at the budget chain \u2013 once the retail darling in the Gap portfolio which also includes Athleta and Banana Republic.<\/p>\n<p>As the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arel giant\u2019s best selling brand, Old Navy was supposed to be spun off in 2020, but plans for the separation were scrapped that year shortly after Gap CEO Art Peck stepped down unexpectedly in Nov. 2019.\u00a0<\/p>\n<p>\u201cAs we look to seize Old Navy\u2019s potential, particularly amidst the macro-economic dynamics facing our industry, we believe now is the right time to bring in a new leader with the operational rigor and creative vision to execute on the brand\u2019s unique value proposition,\u201d Gap CEO, Sonia Syngal said in a statement on Thursday. Syngal is temporarily assuming the helm of Old Navy, the company said.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/old-navy-nancy-green-13-feature.jpg?w=1024\" alt=\"Old Navy store entrance.\" class=\"wp-image-22001012\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/old-navy-nancy-green-13-feature.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/old-navy-nancy-green-13-feature.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/old-navy-nancy-green-13-feature.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Old Navy\u2019s CEO Nancy Green stepped down this week.<\/figcaption><figcaption><span class=\"credit\">SOPA Images\/LightRocket via Getty Images<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/old-navy-nancy-green-15.jpg?w=1024\" alt=\"Nancy Green standing in an Old Navy store.\" class=\"wp-image-22001026\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/old-navy-nancy-green-15.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/old-navy-nancy-green-15.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/old-navy-nancy-green-15.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Old Navy\u2019s CEO Nancy Green held the position for nearly three years.<\/figcaption><figcaption><span class=\"credit\">San Francisco Chronicle via Getty Images<\/span><\/figcaption><\/figure>\n<p>On Thursday the San Francisco-based company also lowered its first quarter sales forecast to low-to-mid-teens declines compared with the prior year, driven mostly by \u201cpersistent challenges at Old Navy\u201d according to a research note from Wells Fargo analyst Ike Boruchow.<\/p>\n<p>Gap is blaming much of its woes on supply chain disruptions that left some stores with not enough merchandise during the crucial holiday season.<\/p>\n<p>But at Old Navy stores, the problem seemed to be a lack of merchandise that consumers wanted to buy.<\/p>\n<p>Syngal said the chain had \u201cincreased promotional levels\u201d and that Gap was taking a \u201cmore aggressive approach to assortment balancing.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/22\/gap-shares-plunge-20-as-old-navy-ceo-gap-shares-plunge-20-sales-falter-as-old-navy-ceo-nancy-green-exitsexits\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Gap shares plunge 20% as Old Navy CEO Nancy Green exits&#8221; Gap shares plunged more than 20% on Friday after the mall-based clothing giant slashed its sales forecast and said the CEO of its Old Navy chain is leaving the company. The abrupt departure of Nancy Green, who was named chief executive of Old Navy&#8230;<\/p>\n","protected":false},"author":1,"featured_media":436181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/old-navy-nancy-green-10-Gap-store.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[128343,87937,60591,128382,72938],"class_list":["post-436180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-22-22","tag-fashion-sales","tag-gap","tag-old-navy","tag-sales"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/436180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=436180"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/436180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/436181"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=436180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=436180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=436180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}