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Gap to add Old Navy stores in U.S.

Published 04/23/2018, 03:26 PM
© Reuters.  Gap to add Old Navy stores in U.S.
GAP
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  • Gap (GPS +1.3%) plans to add 60 Old Navy stores in the U.S. this year to push the brand's total store count to over 1K.
  • The decision means that the mix of high-performing Old Navy and Athleta stores will increase in 2018 in comparison to the sluggish Gap and Banana Republic brands.
  • Old Navy is also remodeling about 150 current stores.
  • Same-store sales at Old Navy rose 9% Y/Y in Q4.
  • Now read: Filing Season Finds: Week Of March 19-25


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