🟢 The Gap is trading 17.89% up today after raising EPS guidance, naming Old Navy CEO

The Gap is trading 17.89% up now at $24.51 after reporting stronger-than-expected second-quarter profit, raising adjusted full-year EPS guidance to $2.35–$2.45, and appointing Michael Francis as Old Navy’s next CEO.

• Improved gross margins and strong Gap-brand sales offset Old Navy’s 4% decline.
• Investors appear focused on the leadership change’s potential to revive the struggling largest brand.
• The company narrowed its sales outlook despite the earnings beat.