Gap Inc said on Friday it was sticking with plans to spin off its Old Navy brand...
) 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.
Peck, who joined the company in 2005 and had held the top job since 2015, had planned to split Old Navy as part of his push to revitalize the company after several quarters of disappointing numbers.Related CoverageThe company said its plans were unchanged. It added that there would be a regularly scheduled meeting of its board next week and that any additional details on the company’s attitude to the spin-off would be provided in an earnings call on November 21.
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