Analysts predict Gap's Pressler soon out

LOS ANGELES, Jan. 6 (UPI) -- Observers are predicting a high-level shakeup soon at Gap Inc. after the San Francisco-based clothing retailer reported gloomy holiday sales.

In announcing weak results, the parent of 3,200 Gap, Old Navy and Banana Republic stores rekindled questions about the fate of Chief Executive Paul Pressler, the Los Angeles Times said Saturday.

Pressler has helmed the group for more than four years. Critics say Pressler's biggest shortcoming has been the failure to consistently stock stores with must-have merchandise.

A number of analysts have reached pretty much the same conclusion: there'll be some changes made, the Times said.

"I do not think that, even over time, he's going to be able to improve the fortunes at the Gap," Robert Buchanan of A.G. Edwards & Sons told the newspaper.

Gap spokesman Greg Rossiter would not comment on Pressler but said the board "will make the necessary changes to turn around the business."

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