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Gap looks to put namesake brand back on track with new management, other changes
New York City -- Gap announced a series of changes to help revive its struggling namesake division, which hasn't posted a gain on an annual basis since 2004. The company has tapped the head of its outlet division, Art Peck, to replace Marka Hansen as leader of the Gap brand for North America, effective immediately. Peck is credited with growing the company’s highly-profitable Outlet business for the past three years. He also has been a primary architect of the company’s franchise business and international growth platform.
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Whirlpool sees Q4 income growth
BENTON HARBOR, Mich. -- Whirlpool Corporation announced fourth-quarter net earnings of $171 million, or $2.19 per diluted share, compared with $95 million, or $1.24 per diluted share reported during the same period last year. Fourth-quarter adjusted diluted earnings per share totaled $2.11 compared with $1.67 in the prior year. Sales of $5 billion increased 4% from the fourth quarter of 2009.
Fourth-quarter operating profit totaled $202 million compared with $199 million in the prior year.