Gap reaches deal to sell Janie and Jack

Gap Inc. says it sell its Janie and Jack children's clothing business to Go Global Retail, an investment firm. The sale is part of Gap's three-year strategic plan to focus its business on its four key divisions — Athlete, Banana Republic, Gap and Old Navy. Gap acquired Janie and Jack from Gymboree for $35 million in 2019. The chain currently has 115 stores in the U.S. and sells through its website.