The Gap, Inc. 's GPS premium Old Navy brand has partnered with Lyft - rideshare service provider - to enhance and facilitate customers' shopping experience during the holiday season. With the holidays about a couple of weeks away, this latest move will make shopping more convenient with Buy Online, Pickup with Lyft.
Shoppers who use the Old Navy's Buy Online, Pickup In-Store capability will be eligible for free Lyft rides to-and-from the brand's stores on Saturdays (Dec 15 and 22). This enables customers to purchase articles on OldNavy.com and pick those with a roundtrip offered by Lyft. As a result, troubles related to driving and parking during this festive time will decrease significantly.
This apart, customers who purchase online and pickup in-store (on Dec 15-16 and 22-23) will get a gift wrapping set that includes festive wrapping paper and three Holiday Your Heart Out gift tags. Additionally, shoppers will be eligible to receive a $5 shop card for the next Old Navy shopping trip, who buys online and pickup in-store from Dec 20 through 24.
Old Navy and Lyft will celebrate this partnership at The Rink at Bryant Park in New York City on Dec 12, with many breathtaking performances. We expect this last-minute holiday shopping agenda to spice up shoppers' experience in the form of additional purchases and boost Gap's sales and profitability.
Earlier, Gap unveiled plans to hire 65,000 seasonal workers to deal with the extravagant holiday rush. These associates are employed at its Gap, Banana Republic, Athleta and Old Navy stores as well as call centers and distribution centers.
Notably, holiday season is the busiest and crucial time for retailers, marking the highest selling period of the year. This brings an opportunity for them to boost comparable sales by increasing store footfall through attractive promotions as well as omni-channel offerings. Other retailers like Dollar Tree, Inc. DLTR , American Eagle Outfitters, Inc. AEO and Target Corporation TGT have also put forward innovative ideas and offers to make most of this festive period.
A glimpse of Gap's price trend reveals that the stock has outperformed the industry in the past three months. Shares of this Zacks Rank #3 (Hold) company have lost 3.7% compared with industry's 16.6% decline. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
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