Gap Inc. announced that it is splitting into two independent, publicly traded companies.

Gap公司宣布将分裂成为两家独立上市公司。

Old Navy, the one brand within the portfolio¹ that has been thriving over the last few years, will exist as its own entity².

Gap公司旗下品牌Old Navy过去几年发展一直不错，未来会成为独立品牌。

Meanwhile, the other brands within the umbrella–Gap, Athleta, Banana Republic, Intermix, and the newly launched Hill City–will fall under a different holding company.

与此同时，Gap, Athleta, Banana Republic, Intermix和最新的Hill City等品牌都将归于另一家母公司。

In 2017, Old Navy’s sales were $7.2 billion, while Gap’s were $5.3 billion, and Banana Republic’s were $2.4 billion.

2017年，Old Navy销量为72亿美元，Gap销量53亿，Banana Republic为24亿。

According to a statement released by the company, this move came because the Gap Inc. board of directors identified that Old Navy now differs considerably³ from the other brands in the family.

据Gap发布的声明，这项举措来源于母公司董事会，董事会认为Old Navy目前与旗下其他品牌发展差距较大。

“It’s clear that Old Navy’s business model and customers have increasingly diverged⁴ from our specialty⁵ brands over time, and each company now requires a different strategy to thrive moving forward,” said Robert Fisher, Gap Inc.’s board chairman.

Gap公司董事会主席罗伯特·菲什说：“很清楚，Old Navy的商业模式和消费者和我们的其他特色品牌越来越不公，每个公司都要有自己独特的战略才能继续发展。”

“Recognizing that, we determined⁶ that pursuing a separation is the most compelling path forward for our brands–creating two separate companies with distinct financial profiles, tailored operating priorities and unique capital allocation strategies, both well positioned to achieve their strategic goals and create significant value for our customers, employees, and shareholders⁷.”

“意识到这一点，我们决定把品牌分开，创造两个独立公司，财务、运作优先级和战略分配都不同，这是最好的方法，这样双方都能达成战略目标，为消费者、员工、股东创造宝贵价值。”

Over the last couple of years, Old Navy has buoyed⁸ Gap Inc., even as other brands within the network experienced declines in sales and foot traffic to stores.

过去几年，Old Navy一直发展很好，而公司内的其他品牌不管是销量还是客流量都呈下降趋势。

Old Navy’s success can partly be attributed to the fact that it mimicked⁹ fast fashion brands, and fed into consumer demands for cheap, fashionable clothes quickly.

Old Navy的成功离不开对快速潮流品牌的模仿，也满足了消费者对实惠又时尚服饰的需求。