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Gap commits to Old Navy split; CEO exit won't impact holiday shopping season

Reuters Friday, 8 November 2019 ()
Gap Inc said on Friday it was sticking with plans to spin off its Old Navy brand into a separate company, as Wall Street analysts questioned its commitment to the project following the surprise exit of Chief Executive Officer Art Peck.
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News video: Old Navy spin-off in doubt - analysts

Old Navy spin-off in doubt - analysts 01:04

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&apos;s stepping down.

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