Gap Inc., the retail giant behind Gap, Old Navy and Banana Republic, laid out its growth strategy Thursday with a pitch to investors that tiny activewear chain Athleta is the brand to watch.
The three-year plan will see the company open 100 new stores and start selling Athleta apparel at other retailers with the goal of doubling sales to $2 billion. The move comes as Gap and Banana Republic plan to close 350 locations by the end of 2023.
Gap shares rose 13% Thursday and are up 5% for the year.
Source: Forbes
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