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: US Apparel and Beauty Spending Tracker, September 2023: Clothing and Footwear Growth Softens Substantially, While Beauty Growth Remains ResilientWeekly US and UK Store Openings and Closures Tracker 2024, Week 2: Bodycare To Open 20 UK StoresMarket Navigator: US Apparel and Footwear Retailing—Executive SummaryEarnings Insights 2Q23, Week 2: Columbia Sportswear, Clorox, Floor & Decor and Sprouts Farmers Market Post Solid Results; Amazon Sees Online Sales Improve
