Nike loses head of women's business to Athleta, Athleta hires new CEO to turn around declining sales

Nike has lost Maggie Gauger, the head of its women's business in North America, to rival Athleta, which is owned by the Gap. Gauger will become Athleta's CEO on Aug. 1, replacing Chris Blakeslee. Nike is trying to attract more female shoppers, while Athleta has reported a drop in revenue and comparable sales for four out of six quarters. Nike's stock has a Moderate Buy rating among Wall Street analysts and an average price target of $78.37.

Gap Inc. has announced the appointment of Maggie Gauger as the new global brand president and CEO of Athleta, effective August 1, 2025. Gauger, who previously led the North America women's business at Nike, will succeed Chris Blakeslee, who will remain as an advisor to the company [1]. Gap CEO Richard Dickson stated that the appointment is part of Gap's strategy to reinvigorate its iconic American brands and drive sustainable growth.

Gauger brings over two decades of experience from Nike, where she drove growth and brand affinity in the active and athleisure market. Her appointment comes as Gap looks to accelerate Athleta's brand reinvigoration, which has seen a 6% decrease in net sales for the quarter, totaling $308 million, with comparable sales dropping 8% compared to the previous year [1].

Athleta has been working on revitalizing its brand, enhancing product offerings and marketing strategies. Gauger stated, "Athleta has an unwavering mission focused on the power of women - not just as athletes, but as leaders, creators and change-makers." She looks forward to working with the Athleta team to grow and inspire the next generation [1].

Meanwhile, Nike is making efforts to attract more female shoppers. The company has received an average recommendation of "Moderate Buy" from analysts, with a twelve-month price target of $78.37 [3]. Despite a year-over-year revenue decline of 11.9%, Nike reported a quarterly revenue of $11.10 billion, exceeding expectations. The company declared a quarterly dividend of $0.40 per share, representing an annualized yield of 2.10% [3].

References:
[1] https://finance.yahoo.com/news/gap-appoints-former-nike-executive-094201690.html
[3] https://www.marketbeat.com/instant-alerts/nike-inc-nysenke-receives-average-recommendation-of-moderate-buy-from-analysts-2025-07-28/