News of Sonja Syngal’s appointment as global president for Old Navy is a recent bright spot for Gap, Inc., a retailer that has been saddled with a number of issues that need to be addressed. Companywide, Gap’s net sales per sq. ft. have dropped to $337, sliding down from $365 in 2013.
company announced in June 2015 that it planned to shutter 175 Gap brand
stores in North America. The bulk of those closings occurred last year,
and amid those internal issues, the company faces an onslaught of competition from fast-fashion retailers like H&M and Zara.
Observers believe that the company has the wherewithal to pull itself
out of its current rut, mainly because of its strong cash position and
low debt load.. . . more