Store of the Future

Art Peck’s departure comes at a time when Gap and all of its brands, even Old Navy, have been hit with tough times and declining growth in sales. Spinning off Old Navy, the one bright spot in Gap’s portfolio, was part of Peck’s plan to revitalize the company. But under Peck’s leadership, sales across the board were too volatile, leading to his departure and looming uncertainty over whether the split will actually go through. If it doesn't, Gap will have a rough road ahead.