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Article: MENDING THE GAP AFTER PRESSLER'S EXIT; ANALYSTS SAY SOUL-SEARCHING AS IMPORTANT AS CEO-SEARCHING FOR COMPANY TURNAROUND.(Paul Pressler, Gap Inc.)
- Article from:
- Daily News Record
- Article date:
- January 29, 2007
- Author:
CopyrightCOPYRIGHT 2007 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: ADAM TSCHORN
LOS ANGELES - Paul Pressler's departure from the top spot at Gap Inc. last week after a rocky 4 1/2 years has sparked an industry-wide guessing game about who might step in as president and CEO and help turn around the 3,100-door retailer's slumping sales and flagging stock price.
But analysts say that more important than filling the corner office is turning the corner on a sense of identity-focusing on what the Gap brands (Banana Republic, Old Navy and Forth & Towne, in addition to the namesake label) stand for and reestablishing a sense of relevance with the consumer.
"[Gap] doesn't stand for anything-it doesn't have any ...