Gap Inc To Split Old Navy Into Separate Publicly Traded Company

NEW YORK, NY – MARCH 01: Pedestrians walk past Old Navy and GAP stores in Times Square, March 1, 2019 in New York City. On Thursday, Gap Inc. announced plans to separate into two publicly traded companies, spinning off Old Navy into a separate firm as it closes about 230 Gap stores over the next two years. According to Gap Inc., Old Navy will become its own company, and the other company, which has not been named yet, will consist of the Gap brand, Athleta, Banana Republic, Intermix and Hill City. (Photo by Drew Angerer/Getty Images)