Flash ReportGap 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? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: Three Data Points We’re Watching This Week, Week 35: US Home and Home-Improvement FocusApparel and Footwear Shopping in Focus—Amazon and Walmart Lead; NIKE Ranks as Top Brand: US Consumer Survey InsightsCPG Giants Realign Through Over $100 Billion in M&A, Demergers and DivestmentsWeekly US Store Openings and Closures Tracker 2025, Week 39: Skims Continues To Expand Its Footprint
