This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gap Inc. Opens First-Ever Franchise-Operated Old Navy Stores

Gap Inc. (NYSE: GPS) announced today its plans to open five franchise-operated Old Navy stores in the Philippines in 2014, an important pillar of the company’s international growth strategy for the brand. The first two Old Navy stores will open in Manila in March and there are plans to open three more stores in the second half of the year for a total of five Old Navy stores in 2014.

“This is an extremely exciting time for Old Navy,” said Robert Frank, EVP, Old Navy International. “With our recent entry into China and continued growth in Japan, the openings in the Philippines position us for further growth in Asia and beyond.”

“The Philippines is a natural fit for Old Navy as the country has a strong and growing economy, and consumers in the market are interested in iconic American apparel brands,” said Blair Dunn, General Manager, Old Navy Franchise. “Through local partners we have immediate access to a deep understanding of the marketplace and consumer needs.”

The first of two Old Navy stores, a dedicated three-story building, will open in the heart of Manila’s fashion and shopping district, Bonifacio High Street, on March 22. The second store will open in the prominent Glorietta mall on March 29. Both stores will launch with the Old Navy Spring 2014 collection of the most current fashion essentials and accessories for men, women, children, baby and maternity in the same energizing store environment that made the brand famous.

The three additional Old Navy stores are targeted to open in the Manila area in the second half of this year in new and existing developments.

Old Navy is partnering with Stores Specialists, Inc. to open the stores, which already operates Gap brand and Banana Republic stores in the Philippines. “Local consumers are excited to welcome an iconic American brand like Old Navy and we’re proud to help introduce the brand in our market,” said Anthony Huang, Executive Vice President, Stores Specialists, Inc.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs