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Old Navy Spinoff Still a Go While Gap Scrutinizes Store Count

Interim CEO at Largest US Apparel Retailer Focuses on 'Uneven Execution'
The Old Navy brand, founded in 1994, is owned by Gap Inc. (Getty Images)
The Old Navy brand, founded in 1994, is owned by Gap Inc. (Getty Images)
By Jennifer Waters
CoStar News
November 22, 2019 | 9:26 P.M.

Gap, the nation’s largest specialty apparel retailer, is assuring investors that plans to spin off its Old Navy brand into a separate company are still in the works, calming uncertainties that the abrupt dismissal of CEO Art Peck may have scuttled the strategy.

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