Gap Inc says it will split in 2 companies, close 230 stores https://ift.tt/2GRWmWP

The company board said that following a comprehensive review by the Gap Inc board of directors, it was clear that Old Navy's business model and customers increasingly diverged from the specialty brands over time, and "each company now requires a different strategy to thrive moving forward." Shares surged 25% in aftermarket trading after the announcement.
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