Gap to separate Old Navy brand, close stores; shares surge 25 percent

March 1, 2019 admin Business News Comments Off on Gap to separate Old Navy brand, close stores; shares surge 25 percent

Gap Inc said on Thursday it would separate its better-performing Old Navy brand into a publicly traded company and close about 230 stores of its struggling namesake apparel business, sending its shares surging about 25 percent.

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Source:: Reuters – Business News