Pressler’s penny-pinching may have turned off the Gap’s core customers. Sweaters that were once 100% cotton or wool, for example, showed up in stores as acrylic blends, and people noticed. Banana Republic tried to woo the same high-end consumers as J. Crew but didn’t go far enough in offering luxury fabrics, like cashmere, that those shoppers wanted. In 2005, while department stores couldn’t sell enough $100-plus premium jeans, the Gap skipped denim and tried to push khakis. “Pressler went too far in focusing on costs at the expense of merchandising,” says Christine Chen, senior research analyst at Pacific Growth Equities. “Sometimes you just need to go with your gut and do what makes sense to get customers in the door.”

The article also mentions the way in which stores like H&M refresh their looks faster, drawing in and keeping customers in their 20s and 30s. By the time a look hits the GAP, it’s already over, and possibly expensive for the store and unflattering for the customer (skinny jeans?)—MEGHANN MARCO