Old Navy President Robertson Out
The president of Gap's Outlet division, Tom Wyatt, will act as president until her replacement is found.
Gap, which has been struggling across all divisions, has seen some of its steepest declines in the Old Navy brand. Last fall, it appointed Todd Oldham as design creative director. In January, same-store sales at Old Navy North America fell 3%, compared to a decline of 1% in the same period a year ago.
And while Gap's fourth-quarter earnings aren't scheduled for release until next week, earlier this month, it said fourth-quarter same-store sales for Old Navy North America were down 5%, compared with a decline of 9% in the prior year.