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Article: Gap stores pointed in right direction CEO has ended two-year slide, aims for future growth Series: Richard A. Chapman
- Article from:
- Chicago Sun-Times
- Article date:
- May 26, 2003
- Author:
CopyrightCopyright 2003 Chicago Sun-Times. (Hide copyright information)
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Gap Inc. Chief Executive Officer Paul Pressler, brought in to halt
a two-year slide in sales at the owner of the Gap, Banana Republic
and Old Navy clothing stores, couldn't have envisioned a better
start.
Sales at stores open at least a year have climbed every month
since he took over in September. Pressler succeeded Millard Drexler,
whom analysts credit with building Gap over two decades into the
largest U.S. clothing chain before the company fell victim to bad
fashion bets.
"Six months doesn't make for a trend," Pressler said after Gap's
annual meeting at a distribution center in Groveport, Ohio. "People
are looking for a longer, sustained period of growth."
His upbeat report to ...