Retail Detail. Gap Sees First Profit Gain in Two Years. Second CIty Style Fashion Blog

August 24, 2007 • Shopping


It looks like all hope is not lost for Gap. New CEO, Glenn Murphy seems to be getting off on the right foot. He just started in August, so who can say he can take credit, but it doesn’t hurt.

In an interview by WWD, Murphy promised to "unleash and reward creativity" and said
he’s been telling employees "the size of the challenge we have before
us is easily surpassed by the opportunities we have ahead of us."

by cost reductions and better inventory management, Gap Inc. reported a
19%increase in second-quarter net. The
last time Gap reported an earnings increase was in the second quarter
of fiscal 2005, when the net rose 39%.

Murphy said it was too soon to list specific objectives, but added, "I
am going to continue to reinforce near-term priorities — the
simplification of the business, allow people the freedom to make
decisions and be accountable for those decisions."

Hey, we kinda like those new ads….

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