Gap Inc. announced plans to focus on increasing market share for the year following a 45 percent profit gain in the fourth quarter fueled by its lower-end Old Navy division. The company will focus on increasing its market share both domestically and internationally.
The San Francisco based Gap Inc. has adjusted fiscal 2011 predictions to be sunnier than past quarters.
The company, which also operates Banana Republic, saw shares gain an excess of 2 percent, or 41 cents, to reach $20.80 in after-hours trading. Gap had gained. They had closed up 49 cents to $20.39 on standard trading Thursday.
The company plans to move forward rather than to continue in the business plan it was operating on before the recession. In 2010, they plans to increase merchandise and remodel 200 of its 800 Old Navy locations. Additionally, it will open Gap stores in both China and Italy while growing the market presence of Banana Republic in Europe.
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