Originally Posted By Darkbeer <a href="http://www.latimes.com/business/la-fi-gap4nov04,0,7154762.story?coll=la-home-business" target="_blank">http://www.latimes.com/busines s/la-fi-gap4nov04,0,7154762.story?coll=la-home-business</a> >>Three years after former Disney executive Paul Pressler took charge at Gap Inc., the nation's largest specialty apparel retailer is once again stuck in a sales slump. The San Francisco-based company reported Thursday that sales at stores open at least a year fell 5% in October, marking 12 straight months of flat or negative same-store sales. Gap's numbers looked particularly gloomy as other chain stores across the country posted better-than-expected sales last month and some of its fiercest competitors delivered strong results — notably Abercrombie & Fitch Co. and American Eagle Outfitters Inc., which posted increases of 31% and 17.3%, respectively. Gap's same-store sales, a key measure of growth, could fall 10% for the year, which would translate to about $900 million in lost sales, analyst Jeffrey Klinefelter of Piper Jaffray & Co. in Minneapolis estimated. With the stock down 19% year to date, analysts — and investors — are getting testy. "I don't see anything positive going on," said Rob Wilson, an analyst with Tiburon Research Group in San Francisco. The vexing trend at the store level has some analysts speculating about the boardroom and whether Chief Executive Pressler's days are numbered. Pressler, 49, declined to be interviewed, and the company said it would not comment on speculation. <<
Originally Posted By Dave Good grief He is gone from the Disney Company so do you still have to keep sticking the knife in him! No one liked him when he was in charge here so why keep bringing him up over and over again! p.s. Since he no longer works for Disney he is not considered a Disney Current Event and now becomes a World Event.
Originally Posted By cstephens Does he even rate as a "world event"? He's not that important, except for those that for whatever reason can't let go of their obsession with him. /cs
Originally Posted By crapshoot <<He's not that important, except for those that for whatever reason can't let go of their obsession with him.>> Actually, it is good to keep one eye on his whereabouts, because sure as anything, he could always be re-recruited back to Disney. Anything is possible, not likely, but possible.
Originally Posted By Westsider And what would happen to our little Cynthia!? If her protector Paul loses his job, what becomes of Cynthia and all of the other TDA executives who were fired and/or fled to The Gap in the weeks and months after Cynthia left TDA suddenly to spend more time with her family? Thank you Darkbeer for directing us to this link. I'm glad to have this news, as it does worry me that Pressler might still have enough fans in the Burbank accounting offices that he could return to Disney. Let's just hope after he leaves The Gap suddenly to spend more time with his family, that he ends up anywhere else but Disney. Foot Locker? Tru-Value Hardware? Manny's Bail Bonds? Who knows where Pressler will go to next!?
Originally Posted By HRM To answer an earlier inquiry > maybe not a Current Disney Event or World Events, but definitely related to Disney Business, becuz I think it would be wise to focus on some key issues here... "The crux of the problem, analysts say, is that... the company seems confused about who shops at the namesake chain." Point #1 > Know and Define your Customer, focus your efforts with a laser beam strategy on meeting the needs and interests of those Customers; "Pressler made his name in consumer products... 'You could argue that Paul Pressler, who doesn't know a thing about apparel, is in a little over his head.'" Point 2: Stick with what you know. Yes, apparel is still retail, but Consumer products is much more broad; and the margins in apparel retail are much more thin. and finally... "Some customers gripe that the quality of the clothing has slipped... the company would see greater benefit if [the GAP] focused... on improving its products." Point 3: Know what your good at, and make it the best it can be. Disney would do well do take note. ºoº
Originally Posted By Darkbeer Here is an news article talking about GAP's Thied-Quarter Profits were down 20%... <a href="http://biz.yahoo.com/ap/051117/earns_gap.html?.v=6" target="_blank">http://biz.yahoo.com/ap/051117 /earns_gap.html?.v=6</a> But you have to love this quote from Paul Pressler... >>"Our third quarter results were unacceptable," said Pressler, the company's chief executive officer. "However, the issues we face today are fixable and we are aggressively executing plans to provide more compelling product and exceptional store experiences for our customers." << Could Paul be stealing ideas from Matt Ouimet????
Originally Posted By Jim in Merced CA The trouble with The Gap... They don't change often enough. I walk into their stores, and there's the Men's department -- polo shirts in assorted colors, long-sleeve plaid shirts, and jeans. Not much different than last season. Or the season before. I haven't bought anything at The Gap for probably 5 years. The only store I shop at even less than I did 5 years ago is Old Navy. For me, their mens department hasn't changed in years. Even Ralph Lauren changes more than these stores.
Originally Posted By SuperDry <<< "Some customers gripe that the quality of the clothing has slipped... the company would see greater benefit if [the GAP] focused... on improving its products." >>> Hmmm... Increase the bottom line by reducing the quality of the product in ways that you think nobody will notice. Customers do notice, driving down sales and making the bottom line problem worse rather than better. Wonder what to do about it. This sounds eerily familiar.
