Gap Seeks Aggressive Old Navy Expansion as Part of Spinoff Plan
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Old Navy plans to almost double its store count in North America as Gap Inc.’s soon-to-be-spun-off discount chain seeks to reach $10 billion a year in sales.
The division, which now operates about 1,140 stores across the U.S., Mexico and Canada, sees the potential to expand to about 2,000 locations in the long term, it said without specifying a timeline. It will primarily focus on smaller markets, including about 75 off-mall sites a year.