AberGAPpie & Fitch?

It seems the only ones falling into the Gap, is the Gap. On January 8, Gap, looking to explore "strategic alternatives", hired the investment firm Goldman Sachs to look into a possible sell. Emily Schmall of Forbes.com has written an article called, "Who'd Buy The Gap?" which puts blame on CEO Paul Pressler for the decline in store and clothing quality. This should not be news to people familiar with Paul Pressler and his reign at Disney where he did the same thing, cut costs at the expense of the overall customer experience and satisfaction.

I first heard the news this morning and was stunned at the thought of Gap being owned by another corporation. Different retailers spun around in my head, Abercrombie, Target and then my Mom this evening said the dreaded word, Wal*Mart. A feasible option as Gap's asking price is $18 billion-plus, but one that would leave me shaking, lying in the fetal position in some corner of the store screaming "WHY GOD WHY!"

While this comes as a shock, it doesn't come as a surprise. Everything that Emily Schmall says in her article is true. I walk into my store, and it's clear that updating it with the newer fixtures, leveling out and refinishing the floor, adding a fresh coat of paint would breathe some new life into my old store. As for the quality of clothing, over the past five years, I have known a marked decline in quality. Without pointing out specifics, even I'm afraid of bending over in a pair of Old Navy denim.

I, as well as many of my co-workers are eager to hear what corporate has to say about all this. Visiting GapInc.com gives no indication that this was going on. The only recent press release is regarding Senior Management changes at Gap and Old Navy brands, that can't be a positive factor given this recent news. Is Gap going to sell? Are they splitting up the brands? How will this affect the employees, our benefits and our jobs? Gap's decision to not comment on the story doesn't bode well for the brand, but I'm eager to see how all this plays out.