The Gap Message Board - Msg: 10458466

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Non-Tech : The Gap

GPS 24.38

+4.9%

Oct 28 3:59 PM EST

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To: Beltropolis Boy who wrote (70)	7/11/1999 12:29:00 AM
From: Brian Malloy	of 189

The LEAPS are up 50% in two months so no complaint. Those wanting to make an entry should probably wait for an inevitable market sell off somewhere in the July-Oct and be in the stock NLT Oct Nov. After visiting Old Navy stores in several cities and talking to sales staff and watching customer flow, I would have to agree with rising demand in that area. I think old Navy is actually siphoning off some of the GAP stores business. At least it all stays in the family. I was also struck by the number of buying customers that were say 40-60+ in the stores that were buying for themselves. GPS appears to be emphasizing the roll out Old Navy stores at this juncture. However, it is the youngest brand so that may not have much significance. Based on my hip pocket check Old Navy has accelerating sales Banana Rep. has more modest sales increases Gap has flat to maybe modest decreases in sales. Bottom line, people are buying clothes this year after taking a clothing holiday in '98 so to speak. Across the board, the specialty retailers are doing pretty good, the sector is hot so I'm there. I will be taking some profits in GPS over the coming weeks and return to a full position when I think a relative bottom is seen.

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