Pressler's in the hot seat again
Personally I think he should be fired for that ugly 70's retro ad campain he put up in Embarcadero Center... Oh yeah, polister is something I want to wear again...Pressler's in the hot seat again
A handful of analysts are betting promises by Gap Inc.Chief Executive Paul Pressler this week that his three top divisions -- the Gap, Banana Republic and Old Navy -- will return to their glory days as must-go destinations for casual, comfortable fashions in the second half of this year are more of the same: empty.
Should he fail to deliver gains in same-store sales and significant operating improvements out of his more than 3,000 retail stores, the analysts think that he should be fired.
"I have to believe that [the board] is laying down the gauntlet for the second half," C.L. King & Associates analyst Mark Montagna said Friday. "If the divisions don't perform in the second half, there will be so much pressure to get rid of him."
In the nearly five years under Pressler's watch, he has done a stunning job of turning around the balance sheet of the company by wiping out huge chunks of debt and building a strong flow of cash.
But the same can't be said for the retail stores, which have seen same-store sales (an important industry measure of receipts rung up at stores open longer than a year) decline or fall flat in 14 of the last 15 months.