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.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.