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NewsWatch: Gap stock skyrockets over 20% as company will spin off Old Navy

MARKETWATCH FRONT PAGE

Gap Inc. stock surges in the extended session Thursday after the retailer says it will split itself into two publicly traded companies, one consisting of its Old Navy brand and a yet-to-be-named company with its Gap, Athleta, Banana Republic, Intermix, and Hill City brands, as sales at the flagship Gap brand fell 5% globally in the fourth quarter. See full story.

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