Flash Reports 3 minutesRegister for free accessGap Scraps Old Navy Spin-Off; Moderately Raises Its Fiscal 2019 Outlook Author By Coresight Research January 17, 2020 Key PointsOn 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. January 17, 2020 Register for free access Please Log In to read the full report. Not a member? Register for a free user account. Other research you may be interested in: