Gap Returning to Former Glory?

NEW YORK ( TheStreet) -- Gap ( GPS) commercials were classics: blue jeans and crisp white T-shirts, that catchy "fall into the Gap" theme song. And now, after a two-year hiatus, they're coming back.

The specialty retailer said it will resume television advertising after a break of two years, and also plans on opening its first store in China in 2010.

During its analyst meeting, Gap also said it will expand its outlet stores internationally and launch an online business in Canada and the U.K.

They Just Don't Get Target!

Other initiatives include reducing square footage by 10% over the next five years and increasing its marketing spending by $25 million in the third quarter and by $45 million in the fourth quarter.
Open For Business: Retailers Add Stores

The return to TV and expansion overseas appear to be yet more optimistic signs from the retailer, whose sales have been struggling for several years.

In September, Gap reported a 1% slip in same-store sales , slightly below the 0.4% decrease analysts expected.

The company has been working to get on the good side of shoppers by sprucing up its merchandise selection, most notably with the re-launch of its 1969 jean this fall.

But the biggest push has come from its Old Navy chain, which the company revamped to better target frugal moms. The results have been astronomical, as comparable sales at the chain soared 13% in September.

-- Reported by Jeanine Poggi in New York

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