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Gap Taps H&M's Larsson To Head Old Navy Brand

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04/30/2012 | 11:23pm CEST

Gap Inc. (>> The Gap Inc.) named Stefan Larsson, a 15-year veteran of Swedish retailer H&M Hennes & Mauritz AB (HM-B.SK), to head its Old Navy business.

The appointment comes after former Old Navy chief Tom Wyatt left the discount apparel retailer in February to take a job at a privately held early-childhood education company.

Old Navy Chief Creative Officer Nancy Green, and Tom Sands, its executive vice president of stores and operations, had been running the retailer in the interim while Gap conducted the search for Wyatt's replacement. They will continue to lead the division until Larsson takes the role in October.

Gap shook up its management last year, including a move that ousted its top designer, as part of a turnaround plan.

The company's earnings have been sliding for the past year, although profits have still exceeded guidance lately after several key trend misses in recent years. In North America, the company's Banana Republic stores have outperformed its namesake brand and Old Navy segment lately.

Larsson most recently served as head of global sales for H&M with responsibility for about 2,300 stores. The world's No. 2 fashion chain by revenue behind Spain's Inditex SA, H&M has pursued an aggressive expansion strategy.

Gap shares closed at $28.50 Monday and were unchanged after hours. The stock has climbed 51% over the past three months.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; [email protected]

Stocks mentioned in the article : The Gap Inc.
Stocks mentioned in the article
ChangeLast1st jan.
GAP 0.28% 31.845 Delayed Quote.-6.93%
HENNES & MAURITZ -0.26% 145.86 Delayed Quote.-13.88%
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Financials ($)
Sales 2019 16 323 M
EBIT 2019 1 434 M
Net income 2019 1 012 M
Finance 2019 352 M
Yield 2019 3,05%
P/E ratio 2019 12,06
P/E ratio 2020 11,57
EV / Sales 2019 0,73x
EV / Sales 2020 0,72x
Capitalization 12 291 M
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Gap Technical Analysis Chart | GPS | US3647601083 | 4-Traders
Technical analysis trends GAP
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 26
Average target price 33,7 $
Spread / Average Target 6,4%
EPS Revisions
Managers
NameTitle
Arthur L. Peck Chief Executive Officer & Director
Sonia Syngal President & Chief Executive Officer-Old Navy
Bob J. Fisher Non-Executive Chairman
Teri L. List-Stoll EVP, Chief Financial Officer & Accounting Officer
Paul Joseph Chapman Chief Information Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
GAP-6.93%12 291
INDITEX - INDUSTRIA DE DISEÑO TEXTIL-5.04%101 915
KERING23.69%71 222
FAST RETAILING CO LTD8.16%47 133
ROSS STORES2.77%31 226
PRADA S.P.A.44.88%13 371