Gap Outbreak In New York Caused By The US Outbreak

Gap suddenly announced the appointment of a new chief executive on Thursday, but unfortunately, a new coronavirus pneumonia was found among its employees in New York.

The US giant said that New York employees who were diagnosed with COVID-19 did not go to work on Thursday, but now they are recovering from home isolation. The company also said it did not know which way the employees were infected.

To prevent the infection of other employees, the company has closed its offices in New York, requiring all staff to work from home until further notice.

Previously, a large number of industry giants including Amazon, Facebook and Nike Nike group have been diagnosed with COVID-19. Amazon and Facebook have asked Seattle employees to work at home. Nike and Holland employees closed their headquarters in Holland on Monday and Tuesday.

The spread of the epidemic in the United States increased volatility in the US stock market week. On Monday, the three major stock indexes of the US stock market rebounded more than 5%, hitting the biggest single day increase in the financial crisis. However, on Tuesday, when the Federal Reserve announced the interest rate cut to stimulate the economy, it fell again by about 3%. On Wednesday, the three major indexes rebounded again about 4%, Thursday, three major indexes fell by about 3%, and three big indexes opened roughly 3%. After the whole week rose, it was at a low level.

Most retail stocks, including the Cape group, fell more than 20% in the past two weeks. Investors are worried that the epidemic will affect the opening of stores. Retail stores in China and Italy have been suspended for a long time.

Before a COVID-19 was confirmed to be infected, Cape suddenly announced the new CEO. Old Navy veteran Navy brand president and CEO Sonia Syngal will be promoted to the Group CEO from March 23rd.

The above appointments meant that the fast fashion industry giant quickly welcomed second female chief executives. The Hennes & Mauritz AB (HM-b.ST) Haines Maurice group (hereinafter referred to as "H&M group") unexpectedly announced the replacement of the CEO at the end of January, replacing the Karl-Johan third Persson by the group senior staff Helena Helmersson.

Helena Helmersson, born in 1973, became the first female CEO of the four fast fashion group. After a month, Sonia Syngal became the first female CEO of Cape group.

In 2016, Sonia Syngal took over from job hopping to Ralph Lauren Corp. (NYSE:RL), and Ralph Lauren Larsson, the chief executive of Stefan Larsson, began to lead the Old Navy brand. Prior to 2004, she started serving the Cape group and served as vice president of global supply chain, general manager of European market and senior vice president of international department.

Bob Fisher, group chairman and interim CEO, praised Sonia Syngal for its effective implementation of all the characteristics and experience needed for the future work. It is an excellent operational talent, capable of promoting innovation and decisive action, and has a keen sense of leadership and vision.

In addition to the new CEO, the group also appointed Bobby Martin from WAL-MART as executive chairman, as well as Elizabeth Smith and Amy Miles two business figures to join the board.

In the middle of 1, Cape group suddenly announced that it would stop the Old Navy brand plan. Robert Fisher said that the purpose of the resolution was to create value. But in view of the cost and complexity and the weak performance at present, it is difficult to achieve the ability to create value by splitting. Therefore, the scheme of splitting the largest brand of the group is terminated.