Why is Old Navy called 'Old Navy'?

(NEXSTAR) – With a name like “Old Navy,” an unfamiliar shopper might reasonably expect the stores to be filled with clothing and apparel that takes its inspiration from the rich maritime traditions of the U.S. military.Such is not the case.Old Navy, which is owned by Gap, Inc., currently offers several varieties of jeans, fleece sweatshirts and PowerSoft leggings — but not a single captain’s hat or cutlass. The reasoning for this is simple: The name “Old Navy&