During Gap's earnings call Chairman and CEO made an interesting comment about the company's real estate footprint:
"With over 40 million square feet of leased space, the real opportunity is reducing square footage per point of distribution and less so in reducing location," he stated.
I'm not entirely sure what that means. Does that mean that Gap is looking to make its stores smaller rather than considering closings? And if so, how would it do that? Or does that mean that they'll redesign stores in order to pack in more inventory in their existing locations?
I spotted this at VMSD.