Traffic passes by an Old Navy and GAP stores in Times Square, March 1, 2019 in New York City. On Thursday, Gap Inc. announced plans to separate into two publicly traded companies, spinning off Old Navy into a separate firm as it closes about 230 Gap stores over the next two years. According to Gap Inc., Old Navy will become its own company, and the other company, which has not been named yet, will consist of the Gap brand, Athleta, Banana Republic, Intermix and Hill City.
Traffic passes by an Old Navy and GAP stores in Times Square, March 1, 2019 in New York City. On Thursday, Gap Inc. announced plans to separate into two publicly traded companies, spinning off Old Navy into a separate firm as it closes about 230 Gap stores over the next two years. According to Gap Inc., Old Navy will become its own company, and the other company, which has not been named yet, will consist of the Gap brand, Athleta, Banana Republic, Intermix and Hill City. - 
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Gap is spinning off Old Navy. The successful low-price apparel brand is becoming its own, separate company. And while splitting assets can be a tricky part of any break-up, the question of what to do with the customer data accumulated by both brands, over decades, looms large.

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Follow Erika Beras at @Erika_Beras