Time profiles Mickey Drexler and, sure enough, it only takes them three paragraphs to stick it to the guy's old employer: "That turnaround is especially sweet for Drexler, who arrived at J. Crew with a down-and-out story of his own, having weathered a two-year slump and ouster at Gap, the company he built into a $14 billion icon over 19 years, most spent as president and ceo. Today, while Gap flails--in January it got rid of Paul Pressler, the CEO brought in to replace Drexler--J. Crew...is one of few companies in the overdeveloped specialty-apparel arena with the potential for real growth."
C'mon. Can't anyone think of a kind word for Gap? Not even for their competitively priced tees? Or is that part of the problem too? Drexler "has rebranded J. Crew as a store that...also dares to inch up the food chain of craftsmanship (think cashmere sweaters), avoiding the race to the bottom by refusing to woo price-conscious consumers and sell ever cheaper clothes made with ever cheaper labor--a trend driven by discounters like Wal-Mart and Kohl's that has rippled to specialty shops."
Oh. Well, then. Guess this isn't a good time to mention those Old Navy expansion plans.