Gap Thinks Becoming a Department Store Will Save It
Although Gap (NYSE: GPS) is well-known for its jeans, khakis, and clothing styles for everyone in the family, it just announced a new branding deal with global licensing firm IMG to expand its product line beyond apparel and head into home decor, textiles, furniture, baby equipment, and baby care.
While Gap is under pressure due to the coronavirus pandemic, transforming into a department store just as that segment of retail looks poised to collapse hardly seems like the transformative plan the retailer needs.
Image source: Gap.
Source Fool.com
