The billionaire who cofounded Gap and her 3 sons have lost $1 billion in 2019 so far amid sales slump
Gap's latest stock drop occurred on Thursday, when CEO Art Peck resigned from his position and his seat on the company's board, the
reported. The company — which also owns Old Navy, Banana Republic, and Athleta — also cut its earnings outlook for the rest of the year.in Manhattan's Financial District in June and found that the store had traded "classic denim and simple silhouettes" for "styles [that] seemed fairly stale and uninventive.The Fishers aren't the only family of retail billionaires to see their fortune shrink in 2019.
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