Old Navy has been driving growth at Gap Inc. for the past several years. In 2018, the brand’s sales totaled $7.9 billion. At the investors’ event, company executives said they planned to open approximately 75 stores a year, focusing on off-mall locations, as part of a strategy to grow Old Navy into a $10 billion-plus brand. (Old Navy had 1,140 stores at the end of Gap’s most recent fiscal year.)
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San Francisco-based apparel retailer Old Navy has announced that it will expand its footprint this year with 60 new locations in the United States. The expansion will push the total count of Old Navy stores to more than 1,000. Old Navy also will be remodeling an estimated 150 stores over the next few months, upgrading them with new fitting rooms, bathrooms and checkout areas.