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With Comp Sales Declining, Gap Inc. CEO Steps Down, To Be Replaced by Gap Founder’s Son

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Coresight Research

What's Inside

With comps flagging, Gap Inc. announced President and CEO Art Peck would step down to be replaced by the founder’s son. Comparable sales have been declining, particularly at Gap Global, for the last couple of fiscal years.

  • Gap global comparable sales for the third quarter ending November 2, 2019 were down
  • Banana Republic Global Brands’ comps also fell – but were up in the same period last year
  • Old Navy Global comps slid as well, also following an increase in the same period last year
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