Flash ReportGap 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? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: Sentiment Hits Four-Month Low as Higher-Income Confidence Weakens; Plus, Mass Merchandisers and Warehouse Clubs in Focus: US Consumer Survey InsightsAgentic Commerce: How Retailers Can Employ OpenAI’s Agentic Commerce Protocol To Unleash a True AI Shopping AgentGlobal Tech and Retail Layoffs in 2025: Structural or Cyclical?Sentiment Declines After Weeks of Gains; Plus, Beauty Shopping in Focus: US Consumer Survey Insights
