Word: analysts
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...that out. Meanwhile, competitors surged ahead, as Gap's sales fell 2%, to $14.8 billion last year. "It used to be that the Gap dictated fashion, but now customers have so many resources, they dictate what they want and see if a store has it," says Marshal Cohen, chief analyst at the NPD Group. And they found what they wanted everywhere, from Target to Wal-Mart to Abercrombie & Fitch. The Gap may have invented cheap chic, but it steadily lost customers to stores that were cheaper, chicer or both...
...offering luxury fabrics, like cashmere, that those shoppers wanted. In 2005, while department stores couldn't sell enough $100-plus premium jeans, the Gap skipped denim and tried to push khakis. "Pressler went too far in focusing on costs at the expense of merchandising," says Christine Chen, senior research analyst at Pacific Growth Equities. "Sometimes you just need to go with your gut and do what makes sense to get customers in the door...
...million last year--a 10% increase--while overall women's ski-related sales jumped an impressive 18%, from $513.3 million to $605.2 million in the same period, according to the Leisure Trends Group. "We see all this happening because of women's spending power," says Julia Day, an analyst with the firm. "It's not some blip on the retail radar screen. It's a complete mind shift...
Some industry experts thought that Smith was justified in driving Perot away. Said Bernard Addo, an auto analyst for Manhattan's Argus Research: Perot may have been a skillful entrepreneur, but entrepreneurship and team management are two different things. Perot was hurting GM's stock by publicly bashing the company's management." Other observers were appalled at the buyout. GM officials got rid of Perot, contended Mary Anne Devanna, director of research at the Columbia Business School Management Institute, "to protect their own hides. Their careers, big bonuses and fancy perks all depend on maintaining the status...
Perot instilled a version of military-influenced behavior at his Dallas EDS headquarters that prevails to this day. Says a Wall Street analyst: "Perot used to run the company like it was his own private militia." But Perot also fostered a spirit of no-frills egalitarianism that inspired high standards and fierce loyalty from his workers. Executive parking spaces and other perks were banned; Perot and the managers ate in the EDS cafeteria. Perot has described the EDS operation as a place where "people are treated as full partners." But he has also said, "I'm used to being able...