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
“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.
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 risk that changes in general economic conditions or consumer
spending patterns will have a negative impact on the company’s
the highly competitive nature of the company’s business in the United
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.
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.