Gap in Podcasts
companyAmerican retail corporation with a focus on apparel and accessories.
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The flip side to that sixth is those companies that have been operated very poorly now use tariffs as sort of cover. So Gap is down 20% today in an okay quarter. What you see their CEO doing is talking about how tariffs are the biggest problem in the history of the world. And I don't disagree that if you're an importer of clothing from China, tariffs are a problem. There is no question about that.
The gap has been in trouble for it seems like decades. But the CEOs look for coverage. And the way that they get coverage. coverage is by saying it's an external factor that's causing them trouble. And that's what we're seeing today. Gap down 20% today as they point to tariffs as a problem. And the real problem is they've been poorly led without a vibrant product line for a long time.
This is Scott Becker with the Becker Private Equity and Business Podcast. Thank you for listening. We're coming to you at the end of May. God bless. One of the stories we're following today is gap tanks. So one of the things I find fascinating, gap is down 20% today. And that's not what I find fascinating.
The only thing you could ever buy at Gap anymore is black T-shirts. And even those became sort of a less quality than they used to be. And I'm a regular black T-shirt wearer. But the point being, you have a situation where great people get thrown under the bus. And what I have found throughout my life is that a lot of times when these great people get thrown under the bus,
I mean, sometimes, for example, you see a situation, we talk often about the CEO of Stellantis Jeep, Carlos Tavares, who just did a horrible job. He's got a scapegoat, did a horrible job. The CEO of Gap, Gap is down 20% today. I mean, he might have a scapegoat. He might try and blame his chief of strategy, blame somebody else. I don't know for how boring Gap has become.
And Gap said they're actually planning to double the amount of American-grown cotton it buys. So they're working with a variety of levers. They're also trying to wring some concessions out of their suppliers. and some are looking at price increases.
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