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. Robert Fisher, the company’s current non-executive board chairman, will serve as president and chief executive officer on an interim basis, effective immediately. The apparel retailer, which estimated a 4% drop in third-quarter same-store sales, now expects full-year adjusted earnings per share of $1.70 to $1.75, down from its previous forecast of $2.05 to $2.15. …read more
Source:: Yahoo Finance
