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

Peck, CEO of Gap, speaks during the Clinton Global Initiative's annual meeting in New York
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(Reuters) - 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.Gap shares fell 5.5% on Friday after Thursday's shock announcement, which came along with another weak batch of forecasts for quarterly sales and..
Date Published: Nov 08, 2019
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