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: China Consumer Tracker: More Than 70% of Respondents Are Avoiding Public PlacesWeinswig’s Weekly: Inclusivity, Premiumization and Innovation Lead the US Beauty Market ForwardDay Three at NRF 2023: Retail’s Big Show—Quick Wins Are Key for 2023 Across Forecasting, Personalization and NFTsSeptember 2023 US Retail Traffic and In-Store Metrics: Shopper Yield Decline Softens Despite Negative Trends in Store-Based Sales and Traffic
