Its comparable sales have been on a tear over the past two year, up 6 percent in 2002 and up 4 percent last year. Sales in the first-half of this year have continued to be...

I think an upside to book stocks will come if these two books generate a lot of traffic into bookstores and boost sales of other books as well.

We believe there is opportunity for a sales-trend improvement as the assortments turn around season after season.

The stock is nearly fully valued,

Gap has taken all the low-hanging fruit from the turnaround. It’s time for the company to come out and inspire the consumer again with better styles, novelty and newness.

Paul’s had two-and-a-half years of solid performance. He’s swung things around. I don’t think that his luck has run out. It’s more a matter of what’s next.

Victoria’s Secret strength has been its efforts to strive for constant newness.