Wallack will now have accountability for specialty retail stores, design, product development, inventory management, and merchandising for Gap’s specialty business in North America.
Hill City is slated to launch mid-October available exclusively at hillcity.com, and pieces from the brand will also be displayed at 50 select Athleta locations.
Same-store sales at the Gap brand fell 5 percent while same-store sales rose 5 percent at Old Navy and rose 2 percent at Banana Republic.
Fiske will begin his new role on June 20, and will serve on the company’s senior leadership team, reporting to Art Peck, president and chief executive officer of Gap Inc.
Same-store sales at the Gap brand fell 4 percent while same-store sales rose 3 percent at both Old Navy and Banana Republic. Overall, same-store sales increased 1 percent.
Fourth quarter fiscal year 2017 net sales increased 8 percent to $4.8 billion and fiscal year 2017 net sales were $15.9 billion.
While a search is underway for a new brand president, Brent Hyder, current Gap Inc. EVP of Global Talent and Sustainability will oversee the brand.
To support its growth strategy, the company will be shifting its focus to where customers are shopping, while continuing to shed square footage in lower productivity locations.
Gap Inc.’s comparable sales for the second quarter of fiscal year 2017 were up 1 percent versus a 2 percent decrease last year.
The global retailer also reported that net sales were essentially flat, while comparable sales showed a 2 percent increase.
Gap Inc. CEO Art Peck will continue to directly oversee Banana Republic until the newly appointed leader joins the company in early May.
The company’s fourth quarter fiscal year 2016 comparable sales were up 2 percent compared with a decline of 7 percent last year.
Leading retailers, including J.C. Penney’s Marvin Ellison and Gap’s Art Peck, met with President Trump over concerns about the Republican-proposed tax, which could lead to increased costs on apparel products and possible job cuts.
Net sales for the quarter increased by 1 percent to $4.43 billion compared with $4.39 billion for the fourth quarter last year.
While a search is underway for Banana Republic’s next president, Gap Inc. chief executive officer Art Peck will directly oversee the brand.
The former CFO of Dick’s Sporting Goods and Kraft Foods will join the national apparel retailer in the executive position.
A 15-year veteran of the national retailer, Simmons has decided to pursue the next chapter in her career.
Gap, Inc. continues to see declining sales in the first quarter earnings report, released yesterday, and, as a result, plans to close 75 stores this year.
Gap Inc. will take steps to better position the company for improved business performance and to build for the future, in light of a continuing stream of disappointing earnings.
Gap Inc.’s CEO Art Peck will accept the 2016 Catalyst Award on the company’s behalf at the 2016 Catalyst Awards event held in New York City.
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