06:50
societynews[dot] org
(Reuters)-clothing retailer Gap Inc. (GPS.N) enters Africa this year, as part of an international push, with plans to open stores in Egypt and Morocco.
The company plans to open its first store Gap in Egypt next month and the first shops Gap and Banana Republic in Morocco in October.
The stores will host the Gap, GapKids and babyGap collections and luxury clothes accessible of Banana Republic and accessories for men and women, the company said in a statement.
This year, Gap had announced plans to open stores in Serbia and Ukraine. Is a part of the company's international push to reduce its dependence on North America, where sales are down.
The company's shares closed at $ 17.96 on Wednesday, the New York Stock Exchange.
(Reporting by Abhishek Takle in Bangalore; Editing by Joyjeet Das)
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