Gap partners with ThredUp for secondhand program – MarketWatch

Gap Inc. GPS, -0.92% has partnered with resale company ThredUp to encourage customers to exchange their used clothes for credits that can be used at the namesake chain, Banana Republic, Athleta, or Janie and Jack. Gap is the largest retailer to participate in the ThredUp program, which partners with retailers to help customers “clean out” their closets. Gap Inc. has a goal of diverting 30 million pounds of material from landfills each year. Banana Republic has also partnered with Postmates, adding delivery service to its buy-online-pickup-in-store program for customers in New York City and Southern California. Delivery will be free for shoppers within a specified distance. Gap’s portfolio of brands also includes Old Navy. Gap had announced plans to spin off Old Navy, but has since canceled the plan. Gap stock has tumbled 31.7% over the past year while the S&P 500 index SPX, -1.15% has gained 21.6% for the period.

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