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Gap Inc. to Split in Two, With Old Navy Standing Alone

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Old Navy’s holiday-season partnership for last-minute shoppers lets click-and-collect purchasers skip the hassles of parking.
CREDIT: Shutterstock

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Gap Inc. said Thursday it plans to create two independent publicly traded companies–Old Navy, focused on family apparel, and a yet-to-be-named “NewCo” that will consist of the Gap brand, Athleta, Banana Republic, Intermix and Hill City. The spin-off will enable each company to maximize focus and flexibility, align investments and incentives to meet their particular…

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