It is understood Goldman Sachs was appointed by the retailer last month, but the purpose of the appointment is still unclear.
Analysts speculated that the retailer may consider selling parts of the business, which include Banana Republic and Old Navy. A management review could also be on the cards.
Gap has struggled in a tough retail environment. Net sales were down 4 per cent to US$2.34 billion (£1.21 billion) for the five weeks ending December 30 and the retailer cut its full-year profit forecast.
The retailer's comparable store sales decreased 8 per cent. Gap North America was down 9 per cent, Banana Republic rose 2 per cent, Old Navy North America fell 10 per cent and International slid 8 per cent.
Year-to-date net sales decreased 2 per cent to US$14.75 billion (£7.6 billion) for the 48 weeks ending December 30 and the retailer's year-to-date comparable store sales slid 7 per cent compared to 2005.
Gap's shares have lost almost half their value in the past seven years.
No comments yet