Gap Surges After Announcing Plan to Spin Off Old Navy
Pedestrians pass in front of Gap Inc. and Old Navy Inc. stores in the Times Square area of New York, U.S. (Photographer: Mark Kauzlarich/ Bloomberg)

Gap Surges After Announcing Plan to Spin Off Old Navy

(Bloomberg) -- Gap Inc.’s announcement that it’s spinning off the best part of its business -- Old Navy -- sent the apparel retailer’s shares soaring 25 percent in premarket trading.
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