Gap Thinks Athleta Can Be a $2 Billion Business by 2023
The real driver of growth for Gap (NYSE: GPS) has been its women's athleisure wear business Athleta. It was the only brand last quarter that reported an increase in net sales, and it's fast approaching the size of the ailing Banana Republic chain in global sales.
Although Athleta is still its smallest segment, Gap thinks it will double sales to $2 billion by 2023. It said at its investor day presentation on Thursday that the highly profitable business plans to open between 20 to 30 new stores.
Image source: Gap.
Source Fool.com