Gap has to know that it can't spend its way to success. The marketing message may be good, but if they can't get their product right, it won't help. The consumer ultimately votes with the wallet.
The near-term is fraught with more questions than answers. Sales comparisons are likely to toughen dramatically going forward.
I think consumers rested a little in June after spending their hearts out in April and May.
For consumers, it's a good time. Procrastinators will be rewarded.
The company is spending like it's 1999. While the consumer is in a state of partial paralysis, this may not be the best time to put the expense pedal to the metal.
I think because of the easy comparisons, apparel has an opportunity to stand out through the rest of the quarter compared to some of the other categories.
Purchasing patterns have been changing for a long time. It used to be you bought for Christmas when you bought for back-to-school. Today, there's no reason to buy ahead of your need when you can buy it when you need it at a better price.
Clearly the economy is not helping. Consumers are relatively strapped, and they're focusing more of their time and attention on the big discount days, like black Friday (the day after Thanksgiving) and today.
Right now there's no deal on the Gordie Howe project. Obviously it's something we've taken a look at and are looking at, but we haven't made a deal on anything. ... Right now it's just a little too early.
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