Murphy said the company will continue its international store expansion with the opening of approximately 40 new franchise stores in 20 countries by the end of the year. Its outlet business will also see growth in the U.K., Japan and Canada.
Piperlime, the Gap's online shoe and handbag shop, will see 50 new contemporary apparel labels added this summer. In addition, about 50 Old Navy stores nationwide will be revamped, based on a new store prototype tested at two California locations.
"With our solid foundation and operational discipline in place, we're now taking steps across our brands to gain back market share," says Murphy. "Our healthy balance sheet also gives us the flexibility to make strategic investments for the future."
The retailer's online and international businesses
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.