Old Navy to remodel 50 stores...Gap opens outlets in UK

At the ultra-exclusive Piper Jaffray consumer conference this morning, officials for Gap announced that 50 of it's Old Navy stores will be remodeled this year in hopes of boosting sales. Old Navy has been rumored to be on the verge of closure for the last 5 years. The brand has tested the new store design in 2 California stores with good reviews.

Though FMC was unable to find either of the California test stores, we did find that the store in St. Petersburg, FL opened in November of 2007 with a sleek, new look, appearing more like a Banana Republic than a big box store. The "Old Navy" signs are replaced by "ON"- the newer logo. Art on the walls changes seasonally, rock gardens and faux bamboo accent the pink pedestal tables. The floors and ceilings are finished and all in all, it feels like a regular store.

It's a good step for Old Navy, whom analysts predict is poised for success in our new value-based economy. But it IS a first step and Old Navy has more hurdles to overcome. Hopefully the recent addition of Mark Breitbard as Chief Merchandising and Creative Officer is enough to bring Old Navy back from the brink.

In other news from the conference, Gap plans to expand to have 40 more stores worldwide as well as a bigger push to open Gap Outlets in the UK, Japan and Canada. Additionally, Piperlime has aquired agreements with approximately 50 new labels to carry their merchandise on their website.

Happy Shopping

-The FMC Team