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Today, Gap seems hopelessly dated, unlike competitor American Apparel, which took the basic T-shirt and made it sexy.
Today, Gap, Levis Strauss, and Nike often are cited as leaders in CSR practices, but based upon their CSR reporting in 2001, it was clear that the companies were still devising strategies for simultaneously meeting business growth goals and the expectations of a variety of stakeholders.
Today, Gap's challenge is mostly same -- being fashionable without alienating its khaki-loving base.
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Just two years ago, Gap seemed unstoppable.
Yesterday Gap announced its own designer collaboration.
But interest dwindled, and last year Gap dismantled the lounges.
This fall, Gap will try to atone for such missteps.
Together, Mr. Tsolkas said, these explain the aforementioned $3,800 gap.
This year, Gap itself -- admitting it overordered -- slashed prices on its multicolor leather goods well before Christmas.
Earlier yesterday, Gap said it received commitments for a $1.3 billion credit line from banks.
In the last 10 months, Gap has also appointed marketing heads for its Old Navy and Banana Republic chains.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com