Gap Inc on Thursday announced plans to split into two companies and shutter 230 stores in a makeover that showcases its hot "Old Navy" chain and deemphasises its slumping namesake brand.[NEW YORK] Gap Inc on Thursday announced plans to split into two companies and shutter 230 stores in a makeover that showcases its hot"Old Navy" chain and deemphasises its slumping namesake brand.
"Following a comprehensive review by the Gap Inc Board of Directors, it's clear that Old Navy's business model and customers have increasingly diverged from our specialty brands over time, and each company now requires a different strategy to thrive moving forward," Gap board chairman Robert Fisher said in a statement.Market voices on:
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