00:00For Gap, Inc. to complete a true turnaround, the real stakes lie in its biggest brand, Old Navy.
00:05While cultural buzz is lifting the gap, Old Navy ultimately determines the financial bottom line.
00:10This is the biggest, quietest, but perhaps most important part of the business.
00:15Not the most culturally loud, but this is the part of the business that can keep
00:19the underlying afloat, can keep growing, can drive the cash needed to affect all these turns.
00:23The question hanging over Old Navy, however, is more complex.
00:27For a brand targeting lower-income shoppers, can the Gap playbook be applied in the same way?
00:32If you want to be really big, you can't be really special.
00:34Because the amount of people that are needed to buy $8 billion is just so much broader than
00:40being able to retain a certain identity. And so what they need to figure out is,
00:43can they become this huge and special business, or do they just stay more of a mass player?
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