Old Navy is going to open hundreds of new stores with the promise of new jobs.
The announcement came during a Gap Investors Day event Thursday in New York.Old Navy plans the expansion as it prepares to split from parent company The Gap.
Old Navy's CEO says the company will almost double its store count to two-thousand, with most new stores in small markets.
The casual wear company outlined its plans to open 800 news stores, and expects to open 75 stores a year, focusing away from shopping malls, which have been struggling.
The Gap said in February that it plans to spin off Old Navy into a public company in 2020. The Gap will hold on to its flagship brand and Banana Republic, as well as Athleta and Hill City.
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