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GEORGETOWN, Ky. — Richard Cox passed away in 2012 after a long battle with cancer. But the Georgetown man made an effort to 137

Gap and Old Navy have been trending in opposite directions for years. So they're finally splitting up.Gap said Thursday that it would break into two companies. One of the companies will contain Old Navy, while the other yet-to-be-named business, currently called NewCo, will comprise Gap, Banana Republic and other brands, including Athleta and Hill City.The move is designed to allow Old Navy — which has grown to billion in annual sales since it opened its first store in 1994 — to expand on its own. Meanwhile, the company can consolidate its older brands like Gap and Banana with its newer ones like Athleta and Hill City. NewCo will have about billion in annual sales."We think the best way for each company to grow and meet the evolving needs of our customers is to allow them to pursue tailored strategies separately," Gap CEO Art Peck told analysts Thursday. Peck will lead NewCo. Sonia Syngal, CEO of Old Navy, will keep running that company.Wall Street cheered the decision: Gap stock was up 25% in after-hours trading.The separation is a tale of two vastly different businesses: Old Navy has thrived in recent years, and sales at stores open at least a year grew 3% in 2018. Meanwhile, the Gap has struggled — its sales fell 5% last year. Banana Republic has been closing stores, which has helped the company improve sales."Old Navy continues to outpace Gap brand and Banana Republic, and is one the fastest-growing major apparel brands," said Christina Boni, analyst at Moody's.The Gap, which was founded in 1969, used to be the coolest brand in retail: It rode the mall boom in the back half of the 20th century, and its logoed sweatshirts and turtlenecks won over everyone from teens to moms and celebrities like Sharon Stone.But the brand fell out of touch with the Baby Boomers who grew up on the brand, and it failed to attract the Millennials who drive fashion trends today. Retailers such as Levi's, Target and fast-fashion sellers H&M and Zara lured away Gap's denim shoppers with cheaper prices and trendier styles.The company has been talking for a while about how to make the Gap a healthy part of the business again. In November, Peck described Gap's store count as unprofitable. As of the end of last quarter, there were 1,242 Gap stores worldwide. 758 of them were in North America.On Thursday, the company said it will close 230 Gap stores over the next two years as part of its plan to "revitalize" the Gap brand. The closures will affect "specialty" Gap stores, which includes mall-based stores.Most of those stores will be in North America, Peck told analysts Thursday. Chief financial officer Teri Stoll added that the company focused on stores that were not delivering, were in the "wrong locations" or were not a "strategic fit."About 130 of those closures will happen this year, according to Gap. The company also plans to open Old Navy and Athleta locations. Athleta, which will be part of the new Gap company, is a women's athleisure chain that has been a success. Hill City launched last year as Gap's men's athleisure brand.Gap thinks it will save between 0 million and 0 million before taxes over the next two years because of its closure plans, according to a securities filing. It expects to finish splitting the companies in 2020.But some analysts questioned why promising brands such as Athleta and Hill City were included in NewCo with the struggling Gap brand."This could have been an opportunity for a fresh start for Gap," said Bob Phibbs, CEO of consultancy Retail Doctor. "It's simply putting the NewCo brands though the ringer for another cycle of rinse and repeat."The-CNN-Wire? & ? 2019 Cable News Network, Inc., a Time Warner Company. All rights reserved. 3771

GREAT FALLS, Mont. — Bears find their way into all kinds of interesting places, and over the weekend, a young black bear proved it: 144

How bad is the flooding across the central United States? A total of 70 river gauges along the Mississippi River and its tributaries are experiencing major flooding, and another 104 are seeing moderate flooding, as of Wednesday's latest data.In all, cities across the region, from Minneapolis down to New Orleans, have been slammed by heavy rain and flooding.And it's not over yet. More heavy rain is in the forecast for today, and over 10 million remain under flood warnings from Oklahoma into Kansas, Missouri and Illinois. The greatest flash flood potential will be from Texas into Arkansas, where 2 to 4 inches of rainfall will be common.Here's a look at the extent of this flooding across the region.OklahomaThe hardest hit areas will likely be along the Arkansas River, with a crest today in Tulsa near the record for the river. Floodwaters from the Arkansas River have inundated homes outside Tulsa, such as in these photos from May 23 in Sand Springs.Debbie Chavez, who has lived with her family in Sand Springs for 24 years, said evacuation started after the water was in the driveway of her neighbors' house last week. She took the below photos of the rising water.Tulsa Mayor G.T. Bynum warned his city to prepare for the "worst case scenario we've had" in the city's history of flooding.US Rep. Kevin Hern, who represents parts of Tulsa County and Sand Springs, said he was extremely concerned about the aging levees in his district."The devastation from the Arkansas River flooding is real, and the continued risk to citizens and businesses is equally as real," he said.ArkansasThe Arkansas River, already rising, will reach near-record or record levels -- above 40 feet in some areas -- Thursday afternoon, officials said."This is looking to be record-breaking all along the Arkansas River, and this is something we have never seen before," state emergency management spokeswoman Melody Daniel said.In Fort Smith, for example, people stood and looked out over the flooded Massard Creek last Saturday.While in Chaffee Crossing, volunteers filled sand bags in a parking lot, readying to distribute them to flood prone areas around homes.In Logan County, the sheriff posted photos of a levee along Highway 309 that has overtopped due to flooding.Arkansas Gov. Asa Hutchinson announced that he'd conduct an aerial tour Thursday out of Fort Smith."This is a flood of historic magnitude, it surpasses all Arkansas flooding in our recorded history. That should be enough to get everyone's attention."MissouriJust in Missouri, 52 river gauges are in major flooding, and another 40 river gauges are experiencing moderate flooding. The flooding is particularly prevalent around St. Louis and its border with Illinois.One resident in Winfield, a city northwest of St. Louis, waded through the floodwater last Friday.Residents in Portage Des Sioux, outside St. Louis, watched as the water rose up to their home on Tuesday.IowaMississippi River gauges in Scott County, which includes Davenport, were in a major flooding zone on Wednesday.The flooding in Iowa was so bad that a Scott County flood assistance event scheduled for Wednesday was postponed because of rising waters.Continued rainfall and saturated ground conditions have affected the Iowa county for most of the year, according to the Scott County website. Earlier in May, 3347

FT. COLLINS, CO - OCTOBER 15: Falcon Heene (C), 6, stands with brothers Brad, 10, (L), and Ryo, 8, outside their home October 15, 2009 in Ft. Collins, Colorado. Falcon was found alive, hiding in the attic of his family home, after his siblings had erroneously reported that he was riding aboard an experimental balloon built by his father. Media helicopters, military aircraft and the FAA all assisted in tracking down the wayward balloon, which landed in a field in Weld County, Colorado. (Photo by John Moore/Getty Images) 538

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