“Gap stock slides 18% after cutting sales guidance; CEO of Old Navy division to leave”
April 22, 2022
“Gap Inc. shares tumbled 18% in premarket trading Friday after the company slashed its sales outlook for the first quarter of fiscal 2022, citing what it called “execution challenges” its Old Navy business, and announced the CEO of that division, Nancy Green, will leave her post this week.
Gap is now projecting low- to mid-teens declines compared with the prior year, adjusted from an earlier forecast that called for mid- to high-single-digit declines…”
https://www.cnbc.com/2022/04/21/old-navy-ceo-to-exit-as-parent-company-gap-cuts-sales-guidance.html