Old Navy Cotton Masks Sold Out Online

Old Navy is selling a pack of five masks for $12.50 to fight the coronavirus pandemic and these cheaper masks have sold out online
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Quality cotton masks are selling for more than $25 retail these days, but Old Navy's cheaper priced version has sold out online as consumers flock to get the commodity amid the coronavirus pandemic. 

FastCompany reported that the masks are already on backorder until late May.

Old Navy is selling a pack of five masks for $12.50 in both child and adult sizing. With shipping in tax, the pack comes to a little more than $20. 

The masks arrive with random designs, but Old Navy says that they are 100% cotton, which health officials say is the preferred material to block coronavirus over polyester. 

Old Navy also announced that it will donate 50,000 masks to the Boys and Girls Club of America.

The apparel retailer is still apart of the Gap Inc.  (GPS) - Get Report family after it reversed a decision to spin-off Old Navy and forecast moderately firmer full-year profits and analysts at Deutsche Bank cut their price target on the struggling retailer. 

Gap warned at the end of April that their cash levels were running low amid the coronavirus pandemic and that they might have a sufficient amount of cash to fund their business.

The move to keep Old Navy within the Gap reporting structure comes just two months after the group confirmed the "strategic rationale for the planned separation" following the announced departure of former CEO Art Peck on November 8.

Gap now says the spin-off could be too costly and complex, and prefers to focus on near-term sales increases at all three of the groups' brands -- Gap, Old Navy and the Banana Republic -- while continuing the search for a permanent CEO.

Shares of Gap are rising nearly 8% Friday to more than $8 per share.