Boston, MA 04/21/2014 (wallstreetpr) – The Gap Inc. (NYSE:GPS), the globally noted clothing company runs it business throughout the U.S., Canada, the U.K., France, Japan as well as China. Glenn K. Murphy, the CEO and Chairman of Board of Gap are expectant to triple its sale in China within the next three years.
China to be the company’s second largest business platform:
This admirable comment was placed by the company’s officials on April 16, 2014. According to the company, Gap is trying to enlarge its business in China. The sale will catch the figure of $1 billion within coming three years and promote China as Gap’s second largest market worldwide. The company, which opened 34 stores in China last year, is expected to open 30 more stores in the country.
The Gap Inc. (NYSE:GPS) has already registered 3,539 physical stores worldwide. In addition to this, Jeff Kirwan, President of Gap announced to run their e-commerce business along with their physical stores. However, the company has been reported to launch their first ‘Old Navy store’ in China.
Positive influence on investor’s meeting:
The investors meeting held on April 16, 2014 also showed a positive response from that side. The meeting was organized to provide the investors a brief idea on the strategic initiative design to achieve long term profit. This progressive attitude of the company will create a buzz among the shopping freaks all over the world, especially the U.S., as announced by the CEO Glenn Murphy.
Webb to take the charge:
On April 15, 2014 Gap acknowledged that Marissa Webb will take the charge of ‘Banana Republic’ (retail store of Gap) as the Creative Director and Executive VP of Design. Her post will be effective from April 28.
Quarterly announcement this May:
This May, the company is planning to organize plenty of events which include the sales release for April, Annual shareholder meeting, as well as 1Q2014 earning releases on My 22, 2014. All these events may show some progressive path to enhance the business of The Gap Inc. (NYSE:GPS). However, whether a blend of such qualitative news will show an assenting answer is a matter or curiosity.