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Banana Republic opens first store in Russia
San Francisco -- Gap has opened its first Banana Republic store in Russia, in Moscow's AfiMall City. In related news, the company will open its first Gap store in Belgrade, Serbia, on Friday.
“We are very proud to not only be introducing Banana Republic to Russia, but also opening our 200th franchise store,” said Stephen Sunnucks, president, international, Gap. “This is a significant landmark for our goal of growing our franchise store base to 400 by 2014.”
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PriceSmart same-store sales up; opens 29th club
San Diego -- PriceSmart's same-store sales rose 17.7% in August. Total revenue for the five weeks ended Sept. 4 climbed 21.5% to $148.3 million.
PriceSmart also announced that on August 19, 2011 opened its first warehouse club in Colombia. This warehouse club, located in Barranquilla, brings to 29 the total number of warehouse clubs in operation by the company.
PriceSmart, based in San Diego, had 29 warehouse clubs at August's end. The company runs membership warehouse clubs in Central America and the Caribbean.