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Rue21 opens 700th store, on track to open 110 stores in fiscal 2011
Warrendale, Pa. -- Rue21 said Thursday it has opened its 700th store, located in New Braunfels, Texas.
The store is Rue21's 80th in the state. Year-to-date, the retailer has opened 63 stores and said it is on target to open 110 new stores and convert 35 existing stores to its larger etc! format in fiscal 2011.
Long-term growth strategy includes opening in strip centers, regional malls and outlet centers, and the New Braunfels location is Rue21's 360th strip center location.
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Gap to make Africa debut
San Francisco -- Gap announced Wednesday that it will open its first Gap store in Egypt this July, and its first Gap and Banana Republic stores in Morocco in October.
The move is part of the retailer’s global expansion strategy that calls for doubling its franchise stores to 400 by fiscal year 2014.
Gap started shipping to Egypt, Morocco and South Africa in 2010, but these stores are the first on the continent.