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The Economic Times

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Gap shares surge 24% after Old Navy leadership shake-up, profit forecast raised

Gap shares jumped as much as 24.1% after the retailer named Michael Francis as Old Navy CEO and raised its annual profit forecast. The appointment comes as Old Navy struggles with falling comparable sales, while Gap's other brands gain momentum. Investors are betting on a turnaround at the company's biggest brand.

28 Aug 2026 10:47 pm