I found this article to be quite interesting & I thought I should share it with you...enjoy the read!
GAP TO TARGET LATE-20-SOMETHINGS by Nichola Groom
Interim CEO Robert Fisher said Gap's flagship chain would begin targeting late-20s shoppers to distinguish itself from teen-oriented retailers Abercrombie & Fitch Co. and American Eagle Outfitters Inc. "The focus on the late 20s customer is going to allow us much more focused product assortment, much stronger marketing messages," Fisher said, adding that it would sharpen its focus by cutting the number of fall products it sells by 30 percent.
Retail analyst Jennifer Black of Jennifer Black & Associates said that move should help Gap "stand for something, versus just being a sea of mediocrity." Gap, based in San Francisco, has been looking for a new CEO since January. "This type of search can take time and it remains a top priority for the board," Fisher said. Meanwhile, the company has made a slew of management changes, most recently the appointment of Patrick Robinson on Wednesday as design chief for Gap Adult and gapbody. Robinson had been artistic director of Paco Rabanne since 2005 and previously worked for Perry Ellis and Anne Klein. Gap has said uninspiring fashions are behind its reporting of flat or falling same-store sales in every month but three since June 2004. Same-store sales, which track sales at stores open at least a year, fell 4 percent in the first quarter compared to a 9 percent decline a year earlier. Chief Financial Officer Byron Pollitt said the company's Gap stores increased markdowns during the quarter to cut excess inventories. That drove gross margins, a measure of profitability, down 2.1 points from the previous year. "We expect Gap brand inventories to be back in line by fall," Pollitt said. Fisher has called 2007 a transition year and has promised no quick fixes for turning around the company.
let's see if Patrick Robinson can put GAP back on the right path....if you want to see some of his designs right now check out the GO International line for Target.