Retail Dive was all set to give Gap Inc.'s plan to spin off Old Navy its "Deal of the Year" Dive Award, in light of the huge implications for both a stand-alone Old Navy business and the remaining "new Gap Inc." But recent developments have called it into question. While the company says all systems are go, (and as of press time, they were), the plan has been delayed by several weeks, at least. And there's reason to believe that it ultimately may not go forward after all.
So the deal is effectively on hold, given the delay, the skepticism increasingly swirling around it and the fact that Art Peck, widely credited with cooking it up, is no longer leading the company. . . . more