Gap’s Pressler Receives Nod for ‘Buck Stops Here’ Award
By George Anderson
In an era when retail executives find pretty much everything under and including the sun to blame for business being off, Gap Inc.’s president and chief executive officer Paul
Pressler is a rarity.
Yesterday, Mr. Pressler contradicted a Gap Inc. press release that cited macro-economic factors as a mitigating factor in slow sales at the company’s stores this summer. He told
analysts that blame for Gap Inc.’s performance fell squarely on him and the rest of the company for not performing.
“We are missing by comparison to the aggregate demand out there,” he said. “That’s something we need to address.”
According to a Dow Jones Newswires‘ reports, Mr. Pressler expressed optimism that a new line of women’s clothing that will be in stores for the winter holiday will help
boost sales. He described the new line as “fresh, casual, American style.”
Moderator’s Comment: What is your reaction to Paul Pressler’s statement about his company’s need to perform better rather than blame it on the weather,
economy, etc.? How do you think Gap Inc.’s employees will react to Mr. Pressler’s statement that the company is not getting the job done? –
George Anderson – Moderator
CEO Says Company, Not Economy, To Blame For Woes – Dow Jones Newswires/iWon.com
- Gap Inc. Reports Second Quarter Earnings – Gap Inc.