Gap Inc got some attention this week for something other than its falling sales figures. The ailing retailer's CEO Arthur Peck managed some big retail ripples this week with the announcement that Gap is strongly considered joining the Amazon bandwagon to gets its clothes into the hands of consumers.
“To not be considering Amazon and others would be -- in my view -- delusional,” Peck said at the company’s annual investor meeting Tuesday in San Francisco. “We are always considering all of the opportunities beyond our traditional mix of channels and stores. Amazon is certainly one, and there are others as well.”
Peck made the remarks in response to a direct question he was asked - specifically if Amazon marketplace might be a viable destination for Gap as it works hard to reverse same-store-sales declines and falling foot traffic in the malls where the Gap (and its associated Old Navy and Banana Republic brands) often make their homes.
Amazon, on the other had is reportedly thriving in the retail apparel space - and is expected to be the No. 1 clothing retailer in the U.S. by 2017 - a consumer spend shift that has left many mall staples reeling and wondering what to do next.
Gap Inc is currently facing plummeting sales figures and share prices that have shed 30 percent of their value over the last year. And though Peck has remained bullish on his stores' turnaround prospects - the timeline has been slow and the spring resurgence predicted has not materialized.