Gap Inc. Achieves Turnaround with Strong 2024 Results

Under CEO Richard Dickson, the retailer posted consistent sales growth, improved profitability, and regained cultural relevance across its brands.

Gap Inc. reported a fourth consecutive quarter of comparable sales growth in 2024, with a 3% increase driven by strong performance in denim and activewear categories.
CEO Richard Dickson’s leadership, beginning in August 2023, introduced a playbook emphasizing trend-right products, cultural relevance, and innovative marketing strategies.
Old Navy, Gap Inc.’s largest brand, delivered one of its highest annual net sales, with consistent market share gains and refreshed product assortments.
Banana Republic and Athleta showed signs of stabilization, with Banana Republic posting a 4% comparable sales increase and Athleta maintaining flat sales after a challenging period.
Wall Street responded positively to Gap Inc.'s turnaround, with the company’s stock price surging 19% to $23.15, reflecting growing confidence in its sustainable growth strategy.