{
  "id": 6053756,
  "title": "Gap Taps New Old Navy CEO to Turn Around Sluggish Sales",
  "url": "https://urgent.news/2026/09/06/gap-taps-new-old-navy-ceo-to-turn-around-sluggish-sales",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-06T22:19:35.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/stocks/articles/gap-taps-old-navy-ceo-221935372.html"
  },
  "original_language": "en",
  "account": "The Gap, Inc. has appointed Michael Francis as the new president and CEO of Old Navy, effective November 2. This move follows Old Navy's disappointing second-quarter results, where net sales fell 4% year over year to $2.1 billion, with comparable sales down 4% from analysts' expectations of a 2.4% decline. Old Navy, which accounts for nearly 60% of Gap's total revenue, had not posted a negative comparable sales figure in 12 quarters. CEO Richard Dickson attributed the decline to a lack of a direct product message in summer marketing, but noted that Old Navy has seen significant improvement in traffic and sales in recent months. Despite the underperformance, Gap's namesake brand showed double-digit comparable sales growth, and Gap shares jumped as much as 14% following the report. The turnaround experience of Francis, who previously worked at Walmart, Target, and JCPenney, is expected to give him a strong starting point when he takes over the role. However, Old Navy's poor performance remains a concern, as it directly impacts the company's overall revenue and profitability. The firm has narrowed its full-year sales growth guidance to 1% to 1.5% due to Old Navy's underperformance, highlighting the significant impact the brand's struggles have on the company's results.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}