15 Sep 2004 08:14 GMT Gap Targets Boomer Women With Test Stores In 2005
Copyright © 2004, Dow Jones Newswires
Gap Inc. (GPS) is preparing to test specialty clothing stores aimed at women over 35, the retailer's first new chain in a decade, Wednesday's Wall Street Journal reported.
The nation's largest specialty-apparel retailer says it plans to open as many as 10 new stores in the second half of 2005, selling clothes "for a range of occasions" for baby boomer women. The nearly 40 million American women born from 1946 to 1964 are a demographic group that hasn't had many apparel stores created solely for them. And Gap is putting executive firepower behind the effort, appointing Gary Muto, the current president of Gap's U.S. division, to head the new chain.
"We'll start with 10 stores and see where it goes," said Paul Pressler, chief executive of Gap.
The San Francisco retailer rang up sales last year of $15.9 billion.
Gap's plans have been something of an open secret in the retail industry: The company has hinted for months that a new chain could be in the works, dropping tantalizing clues and prompting speculation that the new division might focus on baby boomers, or a deep-discount chain.
Mr. Pressler, while confirming the plans, declined to disclose more about the new stores, including what they might look like, where they will open or even what they will be named.
Wall Street Journal Staff Reporters Amy Merrick, Teri Agins, Sally Beatty and Ellen Byron contributed to this article.
(END) Dow Jones Newswires
09-15-04 0414ET
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