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Gap, 2002 Timeline Saturday, April 21 Bookmark and Share     Author
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  Jobs resigns from Gap's board
World News (12) USA (335) California (187) Bay Area (11) San Francisco (340) Gap (64) 2002
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CEO (301)   Gap, 2002   San Francisco, September, 2002 (103)   Apple Business Leaders (36)   Gap Business Resignation
Gap Inc. shares tumble  Shares fell nearly 14% on news the Millard Drexler plans to retire as CEO Gap promotes Banana Republic exec  Gap Inc. has promoted Gary Muto, 43, the president of its Banana Republic division, to president of Gap U.S. 37% drop in quarter profit  Clothing retailer warned its third quarter got off to a rocky start Gap CEO exercises 14.5 m stock options  Millard Drexler's move likely to leave investors guessing about his motives Gap discloses offer for 2.3% of its stock  Canadian investment firm has launched an unsolicited bid to buy a stake in the company for $240 million   Gap picks Disney exec as new CEO
Possible credit downgrade  Standard & Poor's may lower credit rating because of the retailer's steadily eroding sales and profit margins Gap beats recently raised expectations  Sales sagged in the first quarter and profit was down 68% from a year ago CEO announces retirement plans

February 2002 ... more > Top ^

May 2002 ... more > Top ^
  Millard 'Mickey Drexler to retire in a decision that raised new questions about the company's troubles

August 2002 ... more > Top ^

September 2002 ... more > Top ^
  Gap has picked Paul Pressler as its new president and CEO, replacing Millard 'Mickey' Drexler

October 2002 ... more > Top ^
  Apple co-founder had been a Gap director since 1999
Oct.10 Port shutdown will sap quarter profit  Shutdown will put a wrinkle in Gap's turnaround efforts by shaving as much as $60 million from its holiday season profits

November 2002 ... more > Top ^
Nov.7 Higher sales ending 29-month slump
  Sales far exceeded expectations. Same-store sales climbed 11% in October Nov.12 Gap sees positive numbers
  3,158 stores have been restocked with more basic clothing designed to appeal to mainstream tastes
Nov.14 Earnings beat raised expectations
  Company earned $135.3 million, or 15 cents per share, for the 3 months, to reverse a loss of $178.8 million

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