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Old Navy spin-off in doubt after Gap's Peck departs: analysts

Reuters Friday, 8 November 2019 ()
Shares of Gap Inc fell nearly 10% on Friday, as the surprise departure of Chief Executive Officer Art Peck and persistent declining sales, threw the apparel retailer's planned spin-off of its Old Navy brand into question.
Credit: Reuters Studio - Published < > Embed
News video: Old Navy spin-off in doubt - analysts

Old Navy spin-off in doubt - analysts 01:03

Gap shares fell sharply Friday. As Fred Katayama reports, Wall Street wonders whether the retailer will be forced to delay or scrap its plans to spin off its Old Navy brand after the CEO said he's stepping down.

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