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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

If the rest of the National Basketball Association regular season is canceled, players might be seeing fewer zero's on their upcoming paychecks. 156

Flowers are placed in bullet holes and candles line the street near the scene of a deadly mass shooting in Dayton, Ohio.“Once he unloaded a couple of times you could hear the police come in with their shots too,” Dayton local Mike Hoover said.Hoover is talking about the chaos after a man opened fire in a popular downtown entertainment district.“It’s home; it could have been me,” Hoover said, while wiping away tears.For some, tears have turned into rage.“We’re really pissed off to be quite frank about it,” said Ohio Congressman and Presidential candidate Tim Ryan.Congressman Ryan voiced his frustration, while calling for changes to gun control.“We’re not going to stand for anything less, and I think the president is pushing some reform that he wants to tie to immigration, which I think is complete bullsh**,” he said.Some locals are leaving politics out of this, rather focusing on helping their community heal.“Born and raised here,” said DeQuinn Talley. “I love this community, man. It’s where my heart is.”Talley of Duck’s Donuts loves Dayton so much that he got a tattoo to represent his hometown. Less than two days after the shooting, he’s giving in a time of need. “We’re going to take some donuts over to the local hospitals, to the nurses and doctors, who have over seen these victims,” he said.Not all victims, however, were hurt physically. Mark Hellier says this tragedy has wounded him emotionally.“I don’t know any other way to describe it than a terrorist attack,” he said. “This was everybody’s safe place down here.”Hellier says his safe space has been violated and that he’s now looking to move on and away from where the shooting happened.“It’s a constant reminder every time that I come downstairs I see where there was a dead body there,” he said. 1790

Financial Advisors offering pro bono service during this pandemic, along with tips if you are worried about falling short on bills this month.COVID-19 is now being recognized as a health and financial crisis. It has infected tens of thousands of Americans and killed more than a 1,000, while sending the economy into a downward spiral as million are now suddenly unemployed. “Every crisis has its own unique characteristics, but there are some things that remain consistent through them all,” said Evelyn Zohlen.Zohlen has been a certified financial planner for 17 years. She advised clients through the 2008 Great Recession and now has 649

FAIRMOUNT HEIGHTS, Md. — A former Maryland police officer was indicted by a grand jury Wednesday and now faces charges after being accused of raping a woman he pulled over and exposing her to HIV, authorities announced at a press conference.Martique Vanderpool, 30, has been charged with 11 counts, including first-degree rape, authorities said.Back in September, Vanderpool stopped a woman who said she didn't have a driver's license, 448