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Gap Said to Weigh Sale of China Business as Sales Lag Behind
- U.S. clothing retailer working with Morgan Stanley on options
- Old Navy brand exited China last year amid sluggish sales
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Gap Inc. is weighing options including a potential sale for its China business, according to people with knowledge of the matter, as the U.S. clothing retailer looks to revamp its operations in the world’s second-largest economy.
The company is working with Morgan Stanley to study options and has reached out to prospective suitors to gauge interest for the business, said the people, who asked not to be identified as the information is private.