Shares of The Gap fell as CEO Glenn Murphy announced his departure. Cramer doesn’t think Murphy was doing a poor job, but it might be a “what have you done for me lately” situation. Murphy managed to return 160% in 7 years at the helm, and the stock might have dropped because there were those who liked him as CEO and wonder if there might be something negative going on at the company. Cramer thinks the decline was due to slow September sales, “I say buy it.” While other retailers’ stocks have risen, for some reason, The Gap is in “the ne’er do well crowd, and The Gap just isn’t that bad.”
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