The Gap, Inc. (GAP)'s CEO is Doing A "Good Job," Says Jim Cramer

We recently published 15 Stocks Jim Cramer Discussed As He Said CEOs Were Afraid Of Hiring. The Gap, Inc. (NYSE:GAP) is one of the stocks Jim Cramer recently discussed.

The Gap, Inc. (NYSE:GAP)’s shares created quite a conundrum last week when they were briefly halted for trading. However, the stock ended up closing the day 5.9% higher.  The reason The Gap, Inc. (NYSE:GAP)’s shares soared was its CEO’s surprising decision to enter the cosmetics industry. The firm is currently in the midst of a turnaround effort, and despite the fact that the shares have gained a modest 2.2% year-to-date, Cramer continues to remain a believer in the stock. His previous remarks about The Gap, Inc. (NYSE:GAP) have expressed optimism about the long-term viability of the firm’s ongoing turnaround efforts. The stock, however, is yet to recover from its 20% dip in May that occurred after the firm’s warning about the potential impact of tariffs on its profits: Cramer’s recent remarks about The Gap, Inc. (NYSE:GAP) were brief but maintained the optimism:

“Yeah, Dickson’s doing a good job, I still think that Gap is a great situation.”

Here are Cramer’s previous thoughts about The Gap, Inc. (NYSE:GAP):

“I’m a big believer that this is a longer-term turn, and that Dickson is doing the right thing. Stock did fall from 28 to 21. There was very big dispirited action after the company reported because there was a belief that he really missed. And you know he missed the, there’s a, it’s a lot of moving parts to GAP. Lot of moving parts. Don’t know what’s going on.

“. . uh, you know here’s what he’s [Dickson] saying to me, I’m literally walking, he’s walking [inaudible] the station to Goldman, going to have his team get in touch, but it’s a presentation about to be made and he had to get ahead of it. Ahead of the Goldman presentation. And I think that’s really important. People have to recognize, a lot of news being made at these things.

“I mean look, GAP, I mean now GAP is up 10% from where Richard Dickson allegedly had a not great quarter because he introduces cosmetics stop trading at a conference. And I just think that people are excited if there’s something exciting about retail, then people are buying.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.