Gap shares jump 12% after company names new Old Navy CEO to revive struggling brand — Live Feedhttps://www.live-feeds.com/feed/gap-shares-jump-12-after-company-names-new-old-navy-ceo-to-revive-struggling-brandContinuously updated, source-cited coverage. Gap shares surge as Michael Francis takes over as Old Navy CEOhttps://www.live-feeds.com/feed/gap-shares-jump-12-after-company-names-new-old-navy-ceo-to-revive-struggling-brandhttps://www.live-feeds.com/feed/gap-shares-jump-12-after-company-names-new-old-navy-ceo-to-revive-struggling-brand#u51786Sat, 29 Aug 2026 13:05:33 +0000Gap shares rose as much as 24.1% to a four-month high after the company appointed industry veteran Michael Francis as CEO of Old Navy. The leadership change aims to revive the struggling brand following a larger-than-expected drop in sales. While the parent company has cut its overall sales outlook due to weakness at Old Navy, Gap simultaneously raised its annual profit forecast, citing the strength of its namesake brand. Market reactions remain positive despite ongoing sales challenges at the value-focused subsidiary.Why it mattersOld Navy is a critical component of Gap's portfolio, but