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Bonds Are a 'Safe' Investment: A Big Lie Gets Even BiggerAfter Wal-Mart's (NYSE: WMT) foray into high-fashion flopped, the company's top fashion executive has resigned and been replaced by a 12-year veteran of Gap (NYSE: GPS).
Dottie Mattison is taking over for Claire Watts, who resigned to "pursue other interests", hopefully in a field where she will have greater success.
"We think that the changes, which were long overdue, in our view are steps in the right direction although it remains to be seen what changes in the company's merchandise cadence we will see under the new regime," wrote Charles Grom, retail analyst at JPMorgan Securities Inc.
While this certainly looks like a positive change, I'm disappointed that Wal-Mart couldn't bring in someone with experience at a trendier chain. The Gap? Why don't they just hire former New Kid on the Block Joey McIntyre as a spokesman.
The Gap hasn't been cool in a long time, and I doubt that a Gap executive will make the Bentonville retailer's clothing cool anytime soon.
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