Shares of Gap on Monday rose over 11 percent to reach an intraday high of $21.04 in trading on the New York Stock Exchange as investors mulled the possibility that the San Francisco-based company would either sell itself or sell parts of the firm.

The speculation was based on a report on CNBC that Gap hired investment banking firm Goldman Sachs to help it explore its options. Goldman Sachs and Gap both declined to comment.

For complete coverage see tomorrow’s issue of WWD.

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