Gap Inc. (GPS) to Open 40 Stores in India

The retailer is looking to expand overseas

   

Gap Inc. (GPS) to Open 40 Stores in India

Gap (GPS) is looking to expand overseas by adding 40 stores in India.

The Gap Gap Inc. (GPS) to Open 40 Stores in IndiaThe apparel retailer is partnering up with Arvind Lifestyle Brand Ltd – a textile manufacturer owned by Arvind Ltd – to open the stores in India.

“India is an emerging, vibrant market and an important next step in our global expansion strategy,” said Steve Sunnucks, Global President of Gap.

The company also raised its full-year profit forecast from $2.90-$2.95 a share to $2.95-$3.00 a share. The consensus estimate is $2.95 a share.

 

Gap is also looking to expand in the rest of Asia, which only makes up 9% of the company’s global sales. The company said it expects sales in China to triple to $1 billion over the next three years.

GPS stock is up 4.4% Thursday afternoon.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/08/gap-gps-india/.

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