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Gap CEO exiting as forecast cut casts doubt on turnaround

Reuters Friday, 8 November 2019 ()
Gap Inc said on Thursday Chief Executive Officer Art Peck will leave the company, a surprise exit in the middle of a restructuring that comes as the apparel retailer slashed its full-year earnings forecast, sending its shares down 7%.
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News video: Why Gap Isn't Resonating With Millennials

Why Gap Isn't Resonating With Millennials 01:43

Gap announced after the bell Thursday that CEO Art Peck would be stepping down and it slashed its full-year earnings forecast, putting its recent restructuring plans at risk. Peck, who has led the group since 2015, had steered plans to close more than half of its Gap-branded stores and spin-off its...

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