Gap to Grow Online and Int'l. Businesses

Glenn Murphy, Gap's chairman and chief executive officer, has revealed the retailer's plans to open new stores worldwide, expand offerings at its online accessories site Piperlime and remodel some 50 Old Navy stores.Murphy said the company will continue i

April 6, 2018

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

have reportedly grown by approximately $500 million from 2006 to 2008.

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