Please Mind the Gap

And here is her lead: "Although its sales keep slipping, Gap Inc. said net income for its fiscal second quarter increased 19% as it continued to trim expenses. To win back customers, the retailer's new chief executive officer said, it needs to improve both its merchandise and its stores."

Now compare this to the Associated Press, which ran with "Gap Top-To-Bottom Makeover Boosts Profit."

Whoa! A top-to-bottom makeover! That sounds pretty comprehensive, no? A whole lot better than benefiting mainly from some cost cuts? Quite a boost, as they said. Then the lead goes and raises the stakes to a pitched fever:

"The Gap is back -- almost. That's what executives at the San Francisco-based retailer are saying midway through a top-to-bottom restructuring, changing everything from the CEO to colors of their trademark jeans."

That the Gap is back -- even almost -- is huge and welcome news! Break out the bubbly! Let's drink to those revenue and same-store sales numbers! Oh, wait a minute. Give me back that champagne flute and spit out what you have in your mouth.

We don't hear about it until four paragraphs later, but, uh, revenue was down 1%. And same-store sales crumbled 5%.

"We have a lot of work ahead of us," said the latest grand leader, Glenn Murphy, in a bit of honesty, but one that seemed to step on the declaration that a top-to-bottom makeover boosted profits or that Gap was back, if just almost.