Gap Stores plans to sell its Pottery Barn unit.
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The retailer, which bought the chain of housewares stores in April, 1984, said it has retained Shearson Lehman Bros. to help find a buyer. The unit, which operates 32 stores primarily in New York and Los Angeles, reportedly has been losing money. A sale of the unit would allow the San Bruno-based retailer to concentrate on its apparel stores, which recently have experienced a boom in sales and profits. Pottery Barn’s sales reportedly represent $20 million of the Gap’s $671.9 million in annual sales.
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