Gap says the president of its Old Navy brand has resigned, but the company also has secured a former merchandising employee to serve as a consultant to its struggling namesake brand. Tom Wyatt will leave Old Navy Feb. 3. The company named two senior executives to assume his duties while the company searches for a permanent replacement.
Remodels of Old Navy stores (300 and counting) have resulted in higher comparable unit sales. "With almost a third of our fleet remodeled, we are well on our way to completing our vision of transforming Old Navy," said Tom Wyatt, president of Old Navy, in a press release.