Gap CEO Syngal exits as margin squeeze deepens

Gap CEO Syngal exits as margin squeeze deepens

Gap (GPS) fell 5.0% today after the retailer said CEO Sonjia Syngal is stepping down, effective immediately. The company also expects its adjusted operating margin percentage to be zero to slightly negative in the second quarter due to higher promotional activity. “While the macro is far from good today, the majority of these issues appear to be self-inflected and centered on Old Navy,” says Wells Fargo analyst Ike Boruchow, who downgraded GPS stock to Equalweight from Overweight (the equivalents of Hold and Buy, respectively. “As such, we remain cautious about our space. We simply cannot continue to recommend a name that is juggling company specific challenges on top of growing macro pressure.”



Empieza a hacer trading
en cuestión de minutos.

Abre una cuenta ahora

bullet Accede a más de 10.000 instrumentos financieros
bullet Apertura y cierre automático de posiciones
bullet Noticias y agenda económica
bullet Indicadores técnicos y gráficos
bullet Muchas más herramientas incluidas

Al proporcionar su correo electrónico, usted acepta la política de privacidad de FP Markets y está de acuerdo en recibir futuros mensajes de marketing por parte de FP Markets. Puede darse de baja en cualquier momento.





Get instant Updates in Telegram
Mapa del sitio | © FP Markets 2022