The global apparel retailer operates 3,300 company-owned and 400 franchised stores in 90 countries under the brands Gap, Old Navy, Banana Republic, PiperLime, Athelta, and Intermix.
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The chain will go from 900 to 1,700 stores.
Retail sales should jump a solid 3.6% this year
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Over concerns about racial insensitivity
The founder announced he was stepping down as CEO and will be replaced by Stefan Larsson of Old Navy.