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Gap CEO Peck to leave; earnings forecast cut sends shares tumbling

Peck, CEO of Gap, speaks during the Clinton Global Initiative's annual meeting in New York
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(Reuters) - Gap Inc said on Thursday Chief Executive Officer Art Peck will step down and also cut its full-year earnings forecast, blaming slower traffic and operational challenges, sending the apparel maker's shares down 7%.Peck's departure comes as Gap prepares to spin off its Old Navy brand, a bright spot for the struggling retailer, into a publicly listed company. He has been with Gap for..
Date Published: Nov 07, 2019
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