Gap will be split into two publicly traded companies, with Old Navy as a stand-alone company

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Pedestrians walk past Gap Inc. and Old Navy Inc. in the Times Square area of ​​New York City.

Mark Kauzlarich | Bloomberg | Getty Images

Pedestrians walk past Gap Inc. and Old Navy Inc. in the Times Square area of ​​New York City.

Gap Inc. announced Thursday that it would split into two independent publicly traded companies, one from Old Old Navy, and then a company to be named, which will include other brands such as Banana Republic and Athleta.

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