Old Navy’s New Captain Faces Tough Odds | Business and Finance News

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Recorded28 Aug 2026

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Old Navy’s future is in flux as Michael Francis takes the helm as new captain starting November 2nd, stepping up from chief customer officer amid a four percent year-over-year sales dip. With Old Navy accounting for nearly 60% of Gap’s revenue, this move is critical — especially after the brand missed expectations and posted its first negative same-store sales since last year. CEO Richard Dickson calls it a planned pivot to reset the brand’s direction, acknowledging past marketing missteps but noting recent signs of recovery in traffic and sales. Francis vows to sharpen focus on customers, boost cultural relevance, and elevate the shopping experience. Meanwhile, Gap Inc. overall had mixed results: earnings beat but revenue fell short, yet they raised their full-year EPS outlook. The namesake Gap brand surged 10% thanks to culturally resonant storytelling, Banana Republic edged upward, while Athleta continues its profitable rebuild — painting a complex, uneven picture across the company’s portfolio. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/98254a47cabc8e8a

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