Monday, September 17, 2007

Gap is feeling quite bullish…

How does knowledge running a drug store chain translate to running Gap? Maybe not so well.

New chief executive Glenn Murphy, former head of Shoppers Drug Mart (Canada's largest drug-store chain), is trying to create a “leaner, more responsive, and swifter” company.

Gap has been in trouble all year, closing down stores, cutting jobs, and watching their sales numbers slip. All evidence shows that the company is in a downward spiral.

But Murphy is optimistic, thinking his brand of retail treatment, which uses a customer-up focus, is the key to the company’s success.

Wall Street seems to somewhat support Murphy’s optimism – Gap’s shares rose 15 cents following his appointment.

No comments: