Few consumer stocks with as much brand recognition as Gap (NYSE: GPS) have performed so badly on the stock market. Gap, which also owns Banana Republic and Old Navy, has been a staple of American casualwear for decades, but the stock has been anything but essential, down 78% over the past 10 years.

The retailer has been attempting to turn its business around for years. A plan to spin off Old Navy, historically the best-performing of its three major banners, was reversed before it came to fruition. Its partnership with Kanye West blew up in its face. Former CEO Sonia Syngal, who took the reins in 2020, was ushered out just two years later after failing to deliver the comeback many expected.

Now, with a new CEO on the scene, Gap may have its best chance for restoration in years.

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Source Fool.com