Gap To Split Into Two Companies, With Old Navy As Separate Firm

Gap Inc. said Old Navy and the rest of the Gap brands have been attracting different customers and require different strategies.

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.

(Image credit: Drew Angerer/Getty Images)



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