Why Gap Inc. killed its plans to spin off Old Navy and what it says about fast fashion

Get the Full StoryOld Navy, Gap Inc. s fast fashion brand, has seen declining sales in recent quarters. But that s not surprising, given that the fast fashion sector is no longer resonating with consumers.

The heritage apparel conglomerate Gap Inc. which owns Gap, Banana Republic, Old Navy, Athleta, and Hill City has been struggling to find its place in the modern retail landscape for some time. And in another sign of trouble, Gap Inc. just announced that it would be canceling its plan to spin off Old Navy the one high-performing brand within its stable into its own publicly traded company. It also said that Neil Fiske, the president and chief executive officer of the flagship Gap brand, would leave the company.Read Full Story

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