Athleta Reveals Locations of Two New Outlet Stores
Athleta is growing its retail footprint.
Adriana Lee / WWD
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The women’s athletic apparel and accessories brand — which is owned by Gap Inc. — revealed plans Thursday to open two new outlet locations by the end of the year as part of the brand’s promise to grow its retail fleet by 30 to 40 new stores during fiscal year 2022. The first location, a 3,100-square-foot outlet, will open this summer at the Chicago Premium Outlets, followed by a 3,300-square-foot outlet in the Leesburg Premium Outlets in Leesburg, Virginia, this fall.
“As part of our long-term strategic growth plan, Athleta is investing in new access points to reach new customers, deliver new value to customers who already know and love our brand and expand our community of empowered women and girls,” Mary Beth Laughton, president and chief executive officer of Athleta, said in a statement. “Our new outlet stores are intentionally designed to stand out from traditional outlet and clearance store models, helping drive new customer acquisition and increased brand awareness for Athleta.”
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The retailer continues to be a growth driver for the greater Gap portfolio, as activewear’s growth trajectory shows no signs of stopping, even as consumers venture back out into the world. In early 2021 the brand laid out plans to grow its revenue stream to $2 billion in 2023 — up from $978 million in 2020 — while also opening more stores and expanding into the Canadian market. During the most recent quarter, Athleta’s net sales increased 4 percent.
Executives at the parent company said Gap Inc.’s multiyear North American store restructuring will be 85 percent complete by the end of 2022, with 350 closings expected to be done by 2023. Much of the strategy involves shutting down certain Gap and Banana Republic stores.
Athleta, by contrast, has opened 12 new stores in North America to date this year. Locations include markets in California, Connecticut, Illinois, Louisiana, North Carolina, New Jersey, Nevada, Pennsylvania, Tennessee and Utah. In June, the brand said it would open four new stores in Canada by the end of 2022. (Currently, the greater Gap Inc. company has roughly 250 stores in Canada.)
The latest news surrounding Athleta’s real estate expansion plans comes just days after competitor Lululemon revealed plans to open stores in Spain this fall.
David Moin contributed to this article.
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