Gap to open 800 stores by the end of May
Gap Inc. plans to open 800 stores by the end of May, starting with select Texas locations this weekend. The store re-openings will be across the company's portfolio of chains including Old Navy, Banana Republic and Athleta. "Ship from store" service will be available at 1,000 stores and curbside pickup at 75, with plans to expand those services. Stores will open with coronavirus-related measures, including signage to encourage social distancing, reduced hours, and a 24-hour quarantine on returns, such that items won't return to the sales floor right away. Gap stock climbed 2.7% in Thursday premarket trading, but has plunged more than 71% over the last year. The S&P 500 index has slipped 1.2% for the past 12 months.
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