In the 1990s, the Gap was cool, so cool that supermodels wore shirts and jeans by the retailer on the cover of Vogue magazine.

Actress Sharon Stone wore a Gap mock turtleneck to the Academy Awards.

And then there were those popular commercials with all the

dancers bopping around in khakis and t-shirts. But for the last two decades, things were not

looking too good for the Gap Inc, the parent company, which includes Gap and sister company's

Old Navy, Banana Republic, and Athleta. Its sales slumped as it faced stiff competition from rival mall chains

like American Eagle and fast fashion brands like H&M and Zara. To illustrate just how stagnant the company

has been, consider this. Gapstock has been essentially flat over the last 20 years, while the S&P 500

is roughly quadrupled. But recently, things have begun to turn around. Over the last two years, while the S&P 500 is roughly quadrupled.

But recently, things have begun to turn around.

Over the last two years, as of March, gap stock is up over 130%. And the person behind that turnaround is CEO Richard Dixon.

Dixon joined the company in 2023 after working at Mattel, where he helped revitalize

another beloved American brand, Barbie. And he was at the helm during Barbie's big Hollywood debut,

having served as executive producer on the Barbie movie. Now, Dixon is trying to find the same

success at Gap. But with the economy facing new headwinds and consumer confidence

taking a nosedive, can Dixon pull off the comeback? Welcome to The Journal, our show about money,

business, and power. I'm Ryan Knudsen. Coming up on the show, a conversation with GAAP CEO Richard Dixon on how he's

bringing the roughly 55-year-old company back to life and the challenges that still lie ahead.

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