Flash Report 3 minutesRegister for Free AccessGap Scraps Old Navy Spin-Off; Moderately Raises Its Fiscal 2019 Outlook Coresight Research January 17, 2020 Executive SummaryOn January 16, 2020, Gap Inc. announced that it had canceled its plans to spin off the Old Navy business. Gap cited investors’ concerns regarding the complexity of the Old Navy separation, cash outlay to split the brands and softer business performance, particularly at Old Navy. The company raised its fiscal year 2019 outlook moderately, owing to better-than-expected promotional levels over the holiday period. Gap also announced the departure of Neil Friske, President and CEO of the Gap brand. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Weekly US and UK Store Openings and Closures Tracker 2023, Week 13: UK Closures Up 45%CES 2023 Day Two: Deborah Weinswig Presents Key Opportunities for Retailers in the Face of Brisk HeadwindsDepartment Stores in Focus—Kohl’s and Macy’s Lead the Way: US Consumer Survey InsightsChina Consumer Tracker: Renewed Spending Caution—Plus 2023 Travel Plans
