The news: Gap Inc.’s comeback is picking up speed. The company gained market share for the second straight year in 2024, thanks to successful efforts to reinvent its Old Navy, Gap, and Banana Republic brands.
- Comparable sales at its namesake brand rose 7% YoY in Q4, handily beating expectations for a 1.7% gain.
- Comparable sales also rose at Old Navy and Banana Republic, but declined unexpectedly at Athleta.
A successful turnaround: Under CEO Richard Dickson and creative director Zac Posen, Gap Inc. has focused on improving its product assortment and regaining cultural relevance through social-first marketing strategies and savvy partnerships.