(New York, NY)--Gap is splitting into two separate companies. Gap will retain Old Navy, while "NewCo" will reportedly include brands like the namesake Gap brand, Banana Republic, Intermix, Hill City and Athleta.
Gap also revealed yesterday that it will be closing 230 stores over the next two years, including many mall-based stores. The idea is to allow Old Navy to flourish on its own, while the effort continues to revitalize the other brands.
Gap has a major warehouse operation in Fishkill, and operates stores in Dutchess and Ulster counties.
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