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January 10, 2007
Speculation Swirls Over Possible Gap Sale
All eyes are on Gap this week as the stumbling retail chain tries to find a direction following news of shrinking sales.
The San Francisco-based company recently hired investment banking firm Goldman Sachs to help it explore its options, leading to speculation of a potential sale to private equity groups or other interested parties.
The Gap had a tough holiday season, with same-store sales down 8 percent in December. It remains to be seen what direction the company will take, but executives could be moving closer to a decision after meeting in San Francisco earlier this week.
Posted by Blacks on January 10, 2007 09:36 AM
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