Glenn Murphy must be a happy man
. After taking on the baton of Gap, as the Chairman & CEO, he did managed to secure a fairly good score card as the apparel chain has reported 19% jump in its quarterly earnings. Though sales proved to be very slow, it was cost cutting that helped garner the rise in income. The company has also started working on inventory reduction at its stores and is now focusing on its 20 year age group consumers. The net income for the second quarter rose from $128 million to $152 million this year. Gap is also mulling $1.5 billion share buy back programme, of which $250 million in shares would be from the founder Fisher family members.
For Complete IIPM Article, Click on IIPM Article
. After taking on the baton of Gap, as the Chairman & CEO, he did managed to secure a fairly good score card as the apparel chain has reported 19% jump in its quarterly earnings. Though sales proved to be very slow, it was cost cutting that helped garner the rise in income. The company has also started working on inventory reduction at its stores and is now focusing on its 20 year age group consumers. The net income for the second quarter rose from $128 million to $152 million this year. Gap is also mulling $1.5 billion share buy back programme, of which $250 million in shares would be from the founder Fisher family members.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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