First, they ran The Disney Stores, and then they ran the Disneyland Resort and Walt Disney Parks & Resorts. Then, they left a decidedly different Disney Division behind to go run clothier The Gap, Inc, which has seen shares fall after a disappointing second quarter.
Gap, which operates Old Navy, Gap and Banana Republic, reported late Thursday a 53 percent drop in profits in the second quarter as it was forced to step up discounting to clear out summer goods. Based on "disappointing" quarterly results and sales for the month-to-date, particularly with its Gap and Old Navy brands, the retailer cut its earnings forecast for the year. The results disappointed investors who were expecting to see signs of a turnaround at the start of the critical back-to-school shopping season from an overhaul in its fashions and a major marketing campaign.
Well, perhaps the same company that bought The Disney Store will be willing to make another acquisition? Paul Pressler and his trusted staff have taken on another big challenge. It will be interesting to see if former Disney execs can turn another company around in the long term.