As David Weinberger at Brand New pointed out, Old Navy has changed their logo out of the blue (i.e. they have not put out a press release). Here's a look at what they did:
The most glaring alteration was to the oval background. They vertically stretched the ends to make for a rounder look. The other alteration (really, with how simple the logo was there were only two possible changes) was the type face. Now they are using Gotham Bold, as opposed to the Futura Condensed of yesteryear.
While I think the new choice of font keeps in tune with Old Navy's style--mixing the modern with the old--the oval is poorly shaped and "NAVY" just has so many problems. Look at the separation between the N-A, then look at the separation between the A-V. Things are not flowing well here. Then you have the V-Y connecting up there? Why? I think someone was trying to be a wee bit fancy. Got a little too big for their buffers.
I am not looking to nit-pick. These are obvious flaws, in my opinion. They are not horrible to the point that Old Navy will fail within the next year and close it's doors. (Please, God, no. My wife and I are huge Old Navy fans.) But they are there, looking everyone in the eyes. The OLD and NAVY look different, almost clashing. As much as I like the new font, it will take some extra effort and creativity to make the entire thing work better. For starters drop the ligature (joining two or more letters together) of the V-Y. Then, either change the oval back to the way it was or drop it all together.
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