Gap, which was founded in 1969 in San Francisco, owns its namesake brand, Old Navy, Banana Republic and athleisure brand Athleta.įisher is the son of Gap co-founders Don and Doris. Gap CEO Sonia Syngal might want to bear in mind the maxim of Be careful what you wish for.
“The work we’ve done to prepare for the spin shone a bright light on operational inefficiencies and areas for improvement,” Fisher said in a statement in January. Sonia Syngal is on the board of Boys & Girls Clubs of America and The Gap Foundation and President, Chief Executive Officer & Director at Gap. The attempt to spin off Old Navy highlighted Gap’s operational deficiencies and led to the abrupt change in strategy. She led Old Navy from 7B to 8B in sales in just three years, expanding its North American presence to more than 1,200 stores in the US, Canada and Mexico, scaling its e-commerce site to the number 4 largest apparel site in. He also failed to reignite sales growth during his tenure, with the company posting multiple quarters of negative same-store sales, a closely watched metric for retailers. Who is Sonia Syngal Syngal is an accomplished retail leader and CEO of the portfolio’s Old Navy business since 2016. This shielded the apparel retailer from the COVID-19 lockdown’s. announced that online sales surged by 61 during the third quarter of fiscal year 2020, accounting for 40 of its 4 billion quarterly revenue. One of his last acts was to try to spin off Gap’s discount chain Old Navy from its other brands - an attempt that was ultimately scrapped. Dec 1 Sonia Syngal, CEO of Gap, engineers boost in online sales. The stock has lost about a quarter of its value so far in 2020, continuing the broad slump that began in 2018.Īrt Peck departed from the role of CEO in November after leading the apparel retailer since 2015. Gap shares rose 1 per cent in late trading on Thursday. Robert Fisher, the chairman who has served as interim CEO while the company looked for a permanent replacement, said that Syngal will “make the decisions necessary to deliver value from our portfolio of brands over the long term.” She joins the small cohort of female CEOs running Fortune 500 companies.
She became CEO of Old Navy in 2016 and her previous roles include executive vice president for global supply chain and product operations at Gap. Syngal, 50, will take over as of March 23, the company said in a statement. named its Old Navy leader, Sonia Syngal, as chief executive officer as the apparel retailer looks to reverse falling foot traffic and sales while it pivots to a new strategy. This article first appeared on GuruFocus.Gap Inc. The price of the stock has increased by 22.76% since.įor the complete insider trading history of GPS, click here Syngal was born to Sushma and Satya Syngal in India, before her family moved to Canada and then to the United States when she was a child. Syngal is one of few female CEOs in the Fortune 500. The price of the stock has increased by 13.45% since.Ĭhief Legal&Compliance Officer Julie Gruber sold 29,109 shares of GPS stock on at the average price of $14.98. Sonia Syngal is an American-Canadian businesswoman who has served as the president and chief executive officer (CEO) of GAP Inc. of Gap Inc (30-Year Financial, Insider Trades) Sonia Syngal (insider trades) sold 36,830 shares of GPS on at an average price of 17.58 a share. Syngal has been tweaking the iconic retailer, shrinking the struggling Gap and Banana Republic chains and strengthening the booming Old Navy and Athleta brands, whose sales last quarter were. The price of the stock has increased by 4.61% since.Ĭhief Legal&Compliance Officer Julie Gruber sold 9,535 shares of GPS stock on at the average price of $16.21. Sonia Syngal sold 36,830 shares of GPS stock on at the average price of $17.58. GuruFocus has detected 4 severe warning signs with Gap Inc.ĬEO, Gap Inc. GuruFocus rated Gap Inc the business predictability rank of 3.5-star. Gap Inc had annual average EBITDA growth of 0.60% over the past ten years. The dividend yield of Gap Inc stocks is 2.64%. Gap Inc has a market cap of $6.87 billion its shares were traded at around $18.39 with and P/S ratio of 0.48. The company offers products for men, women, and children under various brands such as Gap, Banana Republic, Old Navy, Athleta, and Intermix. Gap Inc is a global apparel and accessories retailer.
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