Tuesday, October 16, 2007

Gap: American slump, European bounce?


Earlier this year, the Business of Fashion visited a Central London outpost of the Gap, one of America's most well-known high street retail chains (NYSE:GPS). We left sorely disappointed with the product, the slow pace of change of collections (the opposite of 'fast fashion'), and the deep discounting that created detrimental expectations in the minds of Gap's core consumer base. Then, a few weeks later Paul Pressler was booted out of the CEO suite, a swift reaction to the financial results achieved under his tenure. To say the least, things have been looking pretty dismal indeed...

-Full Text Via Business of Fashion

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