Gap Slated to Head to Chile Next Year

Gap Inc. (NYSE:GPS) will open a retail store in Santiago, Chile in September 2011, MarketWatch reports Wednesday.

Officials from Gap said they signed a deal with Komax to exclusively operate Gap retail stores in Chile beginning next year.

A Gap statement read, "The franchise business is a key part of Gap Inc.'s global business strategy."

The retailer has a potential upside of 9.6% based on a current price of $20.72 and an average consensus analyst price target of $22.70.

On September 20, 2010, Gap Inc was upgraded two notches to Neutral from Sell at Goldman Sachs Group (NYSE:GS).

The stock is trading at $20.72 which is 8.14% higher than the upgrade price of $19.16.

Category:

News & Politics

Tags:

• GPS
• Gap
• GS
• Chile
• financial
• stock
• market
• news