Athleta Makes East Coast Debut with First New York Stores | Business Wire

SAN FRANCISCO–(BUSINESS WIRE)–Gap

Inc. (NYSE:GPS) today announced the grand opening of two Athleta

retail locations opening this week in Manhattan’s Upper East and Upper

West side neighborhoods. These openings mark the brand’s entry into the

east coast market. Support Athleta’s plan to open up to 50 stores by

2013.

“Entering New York is a significant milestone for us as we aim to grow

our share of the $31 billion women’s active wear market,” said Scott

Key, senior vice president and general manager of Athleta. “Thanks to

our successful catalogue business, we already know there’s a highly

concentrated customer base in the New York metropolitan area and we’re

excited to bring our loyal and new customers two beautiful stores where

they can build strong, inspiring communities around the athletic

pursuits they love.”

The new stores will offer shoppers Athleta’s collection of women’s

active lifestyle apparel for yoga, running, swim, gym, hiking and skiing

– designed by and for female athletes – as well as other products for

both athletic and everyday pursuits.

Key added, “Whether she’s an elite athlete or training for her first

organised event, Athleta offers high quality apparel made to stand up to

every female athlete’s highest standards. And because our clothing is

designed to take our customers through her workouts and beyond, she can

easily transition from working out to going out and still feel confident

she looks great.”

Located at 216 Columbus Avenue on the Upper West Side and 1517 3rd

Avenue on the Upper East Side, the stores sit equal distance from

Central Park, the ultimate Mecca for athletes in the New York area. Both

stores boast modern, clean designs in keeping with the NYC aesthetic and

compliment Athleta’s inspirational catalogue imagery with sleek steel and

warm wood trim at the cash wraps and in the dressing room seating areas.

Additional unique-to-Athleta features include free alterations in store,

kiosks that link directly to the website offering customers access to

additional product and sizes. Free fitness classes.

To mark the opening of our New York City stores, Athleta has partnered

with Bent on Learning, a non-profit organisation that offers instruction

in yoga and meditation to students in grades K through 12 in New York

City public schools and youth centers as a means of reducing stress and

improving concentration, self-esteem and overall health.

Forward-Looking Statement

This press release contains forward-looking statements within the “safe

harbor”. Provisions of the Private Securities Litigation Reform Act of

1995. All statements other than those that are purely historical are

forward-looking statements. Words such as “expect,”. “anticipate,”.

“believe,”. “estimate,”. “intend,”. “plan,”. “project,”. Similar

expressions also identify forward-looking statements. Forward-looking

statements include statements regarding Athleta’s plan to open up to 50

stores by 2013.

Because these forward-looking statements involve risks and

uncertainties, there are important factors that could cause the

company’s actual results to differ materially from those in the

forward-looking statements. These factors include, without limitation,

the following:

  • the risk that changes in general economic conditions or consumer

    spending patterns will have a negative impact on the company’s

    strategies;

  • the highly competitive nature of the company’s business in the United

    States;

  • the risk that the company will be unsuccessful in gauging fashion

    trends and changing consumer preferences;

  • the risk that the company will be unsuccessful in identifying,

    negotiating. Securing new store locations and renewing or

    modifying leases for existing store locations effectively;

  • the risk that the company will be unsuccessful in implementing its

    strategic, operating and people initiatives;

  • the risk that updates or changes to the company’s information

    technology (“IT”) systems may disrupt its operations;

  • the risk that acts or omissions by the company’s third-party vendors,

    including a failure to comply with the company’s code of vendor

    conduct, could've a negative impact on its reputation or operations;

  • the risk that changes in the regulatory or administrative landscape

    could adversely affect the company’s financial condition, strategies,

    and results of operations. And

  • the risk that the company won't be successful in defending various

    proceedings, lawsuits, disputes, claims. Audits.

Additional information regarding factors that could cause results to

differ can be found in the company’s Annual Report on Form 10-K for the

fiscal year ended January 29, 2011. Readers should also consult the

company’s most recent Quarterly Report on Form 10-Q.

Future economic and industry trends that could potentially impact net

sales and profitability are difficult to predict. These forward-looking

statements are based on information as of August 10, 2011. The company

assumes no obligation to publicly update or revise its forward-looking

statements even if experience or future changes make it clear that any

projected results expressed or implied therein won't be realized.

About Athleta

Athleta was founded in 1998 with the mission of providing women athletes

with apparel for different sports and fitness activities. The company

has become one of the premier brands in the rapidly growing women’s

sports and active apparel markets. Athleta offers high quality, stylish,

and functional apparel, footwear and accessories, 90 percent of which is

proprietary branded, across a wide variety of sports and fitness

activities, including a high component of crossover apparel as well as

casual wear. Athleta sells its products through catalogues and its

website, www.athleta.com. The

company is headquartered in Petaluma, CA. Has nearly 200 employees.

Athleta was acquired by Gap Inc. in September 2008 and is part of the

Gap Inc. Direct Division. In 2011, Athleta was awarded the International

Council of Shopping Centers (ICSC) 2011 Hot Retailer Award, an award

that recognizes innovative retail concepts that drive consumers into

shopping centers around the world.

About Gap Inc.

Gap Inc. is a leading global speciality retailer offering clothing,

accessories. Personal care products for men, women, children.

babies under the Gap, Banana Republic, Old Navy, Piperlime. Athleta

brands. Fiscal year 2010 net sales were $14.7 billion. Gap Inc. products

are available for purchase in over 90 countries worldwide through about

3,100 company-operated stores, about 175 franchise stores.

e-commerce sites. For more information, please visit www.gapinc.com.

Press Contacts:
Gap Inc.
Callie Canfield, (707) 559-2221
[email protected]
or
Liz Nunan, (925) 878-9465
[email protected]