Fiske is the New CEO of the Gap Brand

Gap Inc has appointed Neil Fiske, a CEO with twenty years experience in the retail sector , as the new chief executive officer of the Gap brand.

Fiske will be operational from next June 20 and will report directly to Art Peck, CEO of the American giant listed on Wall Street. Fiske in the past he was CEO of the Billabong brand.

The group closed the first quarter of the year (closed on May 5th) with a turnover increasing from 3.44 to 3.78 billion dollars (3.2 billion euros). Old Navy is the group’s first brand, with 1.7 billion dollars made in the quarter, followed by Gap with 1.2 billion and Banana Republic, which worths 564 million. The group realizes 80% of its sales in the United States, 7% in Canada, 8% in Asia, 4% in Europe and finally 1% on the rest of the markets. The most dynamic brand is Banana Republic which, after having recorded a contraction in sales of 4% last year, recorded a + 3% increase in revenues on a comparable basis in the first quarter.