Gap Will Split Into Two Companies; Old Navy Will Be A Separate Firm : NPR

Gap also said it plans to close about 230 stores over the next two years. The moves are the latest signs of turmoil in the retail industry, as Sears and other chains struggle to stay afloat.

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Gap to split into two public companies, with Old Navy as a standalone

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Gap Surges on 'Long Overdue' Spinoff Plan for Stronger Old Navy - Bloomberg