Gap Stock Jumps After Naming Retail Veteran to Helm Old Navy

Live updates

1. 14d ago

   Gap Stock Jumps on Old Navy CEO Appointment

   Gap shares rose up to 24.1% after appointing retail veteran Michael Francis as CEO of Old Navy, aiming to revive the struggling brand. Old Navy experienced a larger-than-expected drop in sales, while Gap Inc. raised its annual profit forecast due to the strength of its namesake brand.

   Why it matters

   The leadership change at Old Navy comes as Gap Inc. faces challenges in reviving its brands. The company's overall sales slipped in the second quarter, but it reported a second-quarter earnings beat. The appointment of Michael Francis is seen as a move to revitalize Old Navy.

   What is confirmed

   • Gap shares rose as much as 24.1% to a four-month high following the appointment of Michael Francis as CEO of Old Navy.
   • Three of four Gap brands shrank or stalled in the recent quarter.
   • Only one Gap brand is really growing.

   What to watch next

   • Gap Inc.'s annual sales performance
   • Old Navy's sales trend under Michael Francis
   • SCO Summit in Bishkek on 1 September 2026
   Sources used for this update (4)

   1. www.fool.com — Only one brand is really growing
   2. jen.jiji.com — Preparations for SCO Summit discussed in Bishkek
   3. finance.yahoo.com — Gap Stumbles, Elevates Marketing Vet To Old Navy CEO
   4. finance.yahoo.com — Costco and Old Navy Deals, Apple’s New CEO and More of Today’s Top Money News
   confidence 100%
2. 18d ago

   Gap shares surge after appointing Michael Francis as Old Navy CEO

   Gap shares rose as much as 24.1% to a four-month high following the appointment of retail veteran Michael Francis as CEO of Old Navy. The leadership change aims to revive the struggling brand after Old Navy experienced a larger-than-expected drop in sales. While Gap Inc. overall saw sales slip in the second quarter, the company raised its annual profit forecast due to the strength of its namesake brand and a second-quarter earnings beat.

   Why it matters

   Old Navy is a critical component of Gap Inc.'s portfolio, but recent weakness there forced the company to cut its sales outlook. The retailer is attempting to balance these losses with culture-driven marketing and growth in the Gap brand.

   What is confirmed

   • Gap shares jumped as much as 24.1% to a four-month high.
   • Michael Francis was named CEO of Old Navy.
   • Gap raised its annual profit forecast.
   • Old Navy experienced a larger-than-expected drop in sales.
   • Gap Inc. reported a slip in sales for the second quarter.

   Still unconfirmed

   • Gap's culture-driven ads featuring Hailey Bieber have paid off despite the parent company's sales drop.

   What to watch next

   • Old Navy sales performance under Michael Francis
   • Future revisions to Gap Inc. sales outlook
   • Impact of culture-driven advertising on overall revenue
   Sources used for this update (11)

   1. CNBC — Gap shares jump 9% after company names new Old Navy CEO to revive struggling brand
   2. Bloomberg — Gap Replaces Old Navy CEO After Bigger-Than-Expected Sales Drop
   3. WSJ — Gap Cuts Sales Outlook on Old Navy Weakness
   4. ADWEEK — Gap's Bet on Hailey Bieber and Other Culture-Driven Ads Pay Off, Even as Parent Company's Sales Drop
   5. Reuters — Gap lifts annual profit forecast on strength of namesake brand
   6. kare11.com — Gap: Fiscal Q2 Earnings Snapshot
   7. Retail Dive — Old Navy chief out as sales falter again
   8. Reuters — Gap climbs after leadership change at Old Navy, profit forecast raise
   9. Yahoo Finance — Gap's Shares Gain 15% on Q2 Earnings Beat & Revised View
   10. WWD — Gap Inc. Sales Slip in Q2, Old Navy Has Change in Command
   11. www.aol.com — Gap climbs after leadership change at Old Navy, profit forecast raise
   confidence 95%