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Tag: spinoff

J.Crew gets green light to spin-off Madewell

J.Crew Group is proceeding with its plan to spin-off its fast-growing denim brand as a public company. The apparel retailer said that it reached an agreement with its lenders that will enable it to separate J.Crew and Madewell into two independent companies and pursue a proposed IPO of the brand.  (In April, J.Crew said it was …

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Commentary: Gap in very weak position, spin-off of Old Navy won’t help it

There is no real surprise from Gap’s third quarter figures: Sales are poor, profit is weak although marginally better than forecast, and the outlook remains gloomy. Given the relative lack of effort from management on resolving the underlying issues plaguing the company, it would be unreasonable to expect a different outcome. However, there is some …

Commentary: Gap in very weak position, spin-off of Old Navy won’t help itRead More

Gap’s Q3 income plunges amid falling sales; Old Navy spin-off plans move forward

Gap Inc.’s problems continued in the third quarter amid disappointing performances across all three of its divisions.   “This is a pivotal time for the company,” said Robert J. Fisher, during the company’s quarterly earnings call. Fisher, son of the founding family of Gap, was named interim president and CEO earlier this month following the departure of …

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Spin-off of Old Navy in doubt amid sudden departure of Gap CEO

Get great content like this right in your inbox. Subscribe The very abrupt ouster of Gap Inc. CEO Art Peck has raised questions about the company’s future plans. On Thursday, Gap said that Peck, who joined the company in 2005 and was tapped as CEO in 2015 after serving as Gap’s digital chief, was being …

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Gap’s Old Navy spinoff plans in doubt with CEO Art Peck out

Traffic passes by an Old Navy and GAP stores in Times Square, March 1, 2019 in New York City. Drew Angerer | Getty Images Gap Inc.‘s plans to spin off its once-star Old Navy brand are being called into question with the ouster of CEO Art Peck. The San Francisco-based apparel retailer announced Thursday evening …

Gap’s Old Navy spinoff plans in doubt with CEO Art Peck outRead More