Gap Inc. is splitting into two. The retailer said Thursday that it’s creating two independent publicly traded companies — low-priced Old Navy and a…
Gap Inc. is splitting into two.
The retailer said Thursday that it’s creating two independent publicly traded companies — low-priced Old Navy and a yet-to-be named company, which will consist of the iconic Gap brand, Athleta, Banana Republic, Intermix and Hill City.
The San Francisco-based company said the spin-off will enable each company to focus on flexibility and pare down costs.
The company also said that it will be shuttering 230 Gap brand stores over the next two years.
