Gap Shares Dive on Old Navy Spinoff Doubts
The surprise resignation of CEO Art Peck has Wall Street "wondering whether the split could be delayed or abandoned altogether."
Gap to Spin off Old Navy, Keep Specialty Brands
"It’s clear that Old Navy’s business model and customers have increasingly diverged from our specialty brands over time."
Gap’s Namesake Brand Weighs on Comp Sales
The retailer plans to focus on the "healthy core" of Gap specialty stores while exiting "those that do not fit the future vision quickly.”
Gap Shares Rise 4% on Turnaround Optimism
The retailer says its second-quarter results show "underlying signs of progress," including improved merchandise margins.