Turnarounds take time, and the road isn't without hurdles—just ask the struggling J.C. Penney.
But some turnarounds have happy endings, and for global specialty retailer Gap, the current outcome is a positive one. Both consumers and investors are again falling into the Gap.
"The consumer across all brands is waking up and saying Gap and Old Navy are a potential choice in their shopping trips now versus years ago when they wouldn't have considered going in the stores. The brands are back in the consumer psyche," said Randal Konik, an analyst at Jefferies.