The biggest retailer to open its doors in 2020: The Gap.
And, yes, it’s also an adult clothing store.
The Gap, the No. 1 apparel retailer in the U.S., has about 4,300 stores and operates in a diverse range of industries, including fashion, home furnishings, and home-based and home entertainment.
Gap’s opening in 2020 marks the second consecutive year that it will have two retail stores open at the same time, after opening stores in 2020 at Macy’s and the Gap in 2019.
The Gap opened its first store in March 2020, the third in 2018.
Gemma Geller, president and CEO of the Gap, said in a statement that opening the stores in 2018 was a strategic move for Gap, “which is a testament to our loyal customer base and our ability to serve them with the quality and style they expect.”
Gap has been a leader in retail and home furnishing, which is the industry it’s trying to enter.
Gap is expected to sell $1.7 billion in apparel and $500 million in furnishings in 2020.
The company is targeting $1 billion in home furnishies and home services in 2020, and $300 million in residential furnishings.GAP also has been aggressively expanding its consumer business, opening a large retail store in Seattle in 2016 and a more limited online business in 2018 and 2020.
In the first quarter of 2020, Gap opened more than 2,300 locations, according to the company.