News Formal

Gap plans to spin off Old Navy into separate company; shares jump 18 per cent

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 92%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Gap plans to spin off Old Navy into separate company; shares jump 18 per cent GlobeBusiness

“It’s clear that Old Navy’s business model and customers have increasingly diverged from our specialty brands over time,” Gap’s Chairman Robert Fisher said.The company also said it plans to close 230 Gap specialty stores over the next two years.

Gap’s overall same-store sales fell 1 per cent in the fourth quarter ended Feb. 2, compared to analysts’ average estimate of 0.3 percent rise, according to IBES data from Refinitiv. Gap, Athleta, Banana Republic and the remaining brands will be part of a yet-to-be-named company. The separation is expected to be completed by 2020, Gap said.Tickers mentioned in this story

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 5. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Canadian dollar weakens as current account gap widens, stocks fallCanadian dollar weakens as current account gap widens, stocks fall GlobeInvestor globeinvestor Good!!
Källa: globeandmail - 🏆 5. / 92 Läs mer »