In a presentation to shareholders at its annual investor meeting on Wednesday, Gap CEO Glenn Murphy outlined growth initiatives that include taking Old Navy international via a franchising route, and expanding on its online programs.
Gap Inc. has named Jill Stanton to the newly-created role as creative advisor for Old Navy, and Liz Meltzer as senior VP of Gap International Merchandising.
Gap reaffirmed the company’s commitment to reducing square footage at home while aggressively growing its online revenue and international presence during a presentation to investors in New York City.
Gap said Wednesday it will advance its expansion in Latin America with new store openings in Chile in October, and will introduce Gap and Banana Republic stores to Panama and Colombia in 2012.
At an investor conference on Thursday, Gap CEO Glenn Murphy announced the company will close 200 of its 900 U.S. namesake stores even as it expands its outlet presence.
Gap said Tuesday that it is establishing an international division, based in London, to ramp up overseas growth, and will open its first Old Navy stores abroad -- in Japan -- by 2012.
Gap said Wednesday that it has expanded its Gap and Banana Republic online presence to eight additional European countries through its dedicated European e-commerce sites.
Gap announced late Wednesday that its first four wholly owned Gap stores have debuted in China, along with the launch of its online retailer store gap.cn.