https://www.live-feeds.com/feed/old-navy-chief-out-as-sales-falter-againContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/old-navy-chief-out-as-sales-falter-againhttps://www.live-feeds.com/feed/old-navy-chief-out-as-sales-falter-again#u52372Sun, 30 Aug 2026 12:00:29 +0000Gap Inc. appointed Michael Francis as president and CEO of Old Navy to stabilize the brand after a bigger-than-expected drop in sales. Second-quarter fiscal 2026 net sales fell 2% to $3.65 billion, ending a 10-quarter streak of comparable sales growth. While the Gap brand achieved double-digit growth, Old Navy weakness forced the company to cut its sales outlook. Despite the revenue dip, Gap shares rose 9% following the leadership change and a raised profit forecast.Why it mattersOld Navy is a critical component of Gap Inc.'s broader corporate turnaround strategy. The brand is currently r