Gap CFO Sabrina Simmons to Leave at End of Fiscal Year
November 02 2016 - 5:29PM
Dow Jones News
By Josh Beckerman
Gap Inc. Chief Financial Officer Sabrina Simmons will leave the
company at the end of its fiscal year, following nearly a decade in
the role.
Ms. Simmons joined the company in 2001 and became CFO in 2007.
In a statement, Gap Chief Executive Art Peck said Ms. Simmons was
"critical in establishing Gap Inc.'s capital structure framework
and maintaining operating discipline."
Ms. Simmons will be employed through Feb. 1 but will leave the
CFO position at an earlier date to be determined.
Gap shares fell 1.5% to $26.45 in after-hours trading.
Gap, which owns the Old Navy and Banana Republic brands, has
suffered from lower foot traffic as more customers turn to online
shopping and has faced competition from chains like H&M. The
company has been trying to turn itself around by shutting some
stores, shaking up management ranks and revamping merchandise.
The company said Oct. 6 that it saw strong response to the fall
clothes at Old Navy in September, but the company's overall
same-store sales declined. Results were hurt by an August fire at a
Fishkill, N.Y., distribution center.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 02, 2016 17:14 ET (21:14 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Gap (NYSE:GPS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gap (NYSE:GPS)
Historical Stock Chart
From Apr 2023 to Apr 2024