September 13, 2019 – Retail Dive – During a meeting with analysts Thursday to further explain the Old Navy spinoff plan, Gap Inc. CEO Art Peck alluded to this work and the success of the company’s global franchise model.

More broadly, Peck is portraying what is now called “new Gap Inc.” (sans Old Navy) as a way to nurture growth not just at its somewhat tired, middle-aged Gap brand but also at newer ones like Athleta and newly acquired Janie & Jack. The company in March bought the children’s apparel brand from Gymboree for $35 million.

“We bought it for nothing,” Peck told analysts, also noting the global franchise plans. “[They’ve got] clean stores, they’re under-expressed in outlet … there’s significant and profitable opportunity in front of us with Janie & Jack.”

Read more at Retail Dive.