BarTopDancer
04-21-2005, 07:44 PM
Here (http://story.news.yahoo.com/news?tmpl=story&cid=509&ncid=509&e=21&u=/ap/20050421/ap_on_bi_ge/gap_meeting) is the story.
Forth & Towne — Gap's first new chain in a decade — aims to appeal to boomer women, who grew up with Gap, but with whom the store "lost touch," said Paul Pressler, president and chief executive at a meeting in San Francisco, which was broadcast on the Web.
With the over-35 group accounting for 39 percent of women's total apparel expenditures, this market represents a "sizable opportunity" for Gap, whose sales have been wavering, although profits have improved, boosted in part by cost-cutting.
Pressler told investors that the company — which operates stores under its namesake brand, Old Navy and Banana Republic — will unveil more details about the clothing this summer. But he said that the new store will offer a broad range of sizes, with a focus on fit, and assortments that serve a variety of occasions. The clothing will be priced between Gap and Banana Republic, he said.
Forth & Towne — Gap's first new chain in a decade — aims to appeal to boomer women, who grew up with Gap, but with whom the store "lost touch," said Paul Pressler, president and chief executive at a meeting in San Francisco, which was broadcast on the Web.
With the over-35 group accounting for 39 percent of women's total apparel expenditures, this market represents a "sizable opportunity" for Gap, whose sales have been wavering, although profits have improved, boosted in part by cost-cutting.
Pressler told investors that the company — which operates stores under its namesake brand, Old Navy and Banana Republic — will unveil more details about the clothing this summer. But he said that the new store will offer a broad range of sizes, with a focus on fit, and assortments that serve a variety of occasions. The clothing will be priced between Gap and Banana Republic, he said.