Gap CEO Blames Poor Results On Lack Of Big Fashion Trend
Wearing Gap is now taboo for an entire generation. It’s been quite some time since Gap was at the forefront of fashion. Some have pointed to the general decline of malls as the source of the chain’s poor performance. Some have pointed to deep discounting and a lack of new ideas for the once essential brand’s current lack of popularity. But on top of that, CEO Art Peck sees another significant challenge — a fundamental flaw in today’s fashion world that’s making it rough for the company to find its footing. At an annual retail conference hosted by Goldman Sachs, Mr. Peck told analysts, “There are no [compelling] fashion trends driving the business,” reported The Street. Mr. Peck contrasted today’s apparel landscape with that of 2012, when colored skinny jeans drew customers to the chain. Read more at Forbes.
