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Old Navy and Athleta get their chance to shine with Gap split

Gap Inc.’s decision to split Old Navy into its own company is being cheered by experts, analysts and investors who think this portfolio star will now be able to shine more brightly.

The news sent shares up more than 18% in Friday trading, and has onlookers optimistic about the prospects for Old Navy.

“The fate of Old Navy is now not tied to the fate of Gap,” said Jonathan Treiber, chief executive of offer-management platform RevTrax.

“The key motivation here isn’t about the Gap but rather to ensure that the success of Old Navy won’t continue to be overshadowed and weighed down by the sluggishness of Gap performance.

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