Gap stock falls the most since 2016 after weakness extends to Old Navy

Gap Inc. tumbled as much as 16 percent—the most since 2016—after the clothing retailer reported a slump in sales at both its namesake line and Old Navy, threatening the potential appeal for a spinoff of the discount chain. Same-store sales, a key measure of a retailer’s performance, fell 4 percent companywide, worse than the estimate compiled by Consensus Metrix. Weakness at the Gap brand appears to be deepening, with comparable sales down 10 percent, more than double the projection. Another concern is Old Navy, a brand that the company refers to as a “powerhouse.” Same-store sales there fell 1 percent, while analysts had forecast growth of 0.8 percent. A turnaround doesn’t appear imminent: Gap Inc. now expects same-store sales for fiscal 2019 to be down in the low single digits after cold, wet weather weighed on the first quarter. Poonam Goyal, an analyst with Bloomberg Intelligence, says the lowered guidance “implies continued weakness across all banners.” The shares fell to as low as $17.32 on Friday, and the stock has now lost more than 40 percent of its value since an initial jump followed the announcement of the Old Navy spinoff at the end of February. Gap’s results also dragged down shares of Swedish rival Hennes & Mauritz AB and Spain’s Inditex. Gap CEO Art Peck said on Thursday that the company is still “confident” in its plan to spin off Old Navy. The company has formed a team to manage the separation, and is planning an event in mid-September to... Continue reading at 'Advertising Age'

[ Advertising Age | 2019-05-31 15:50:27 UTC ]
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Stocks fall as Facebook leads tech companies down

A sharp loss for Facebook is helping to pull technology companies lower as stock indexes decline in early trading. Facebook slumped 5.3% early Monday. The company is facing new criticism following reports that a data mining firm employed by the Trump campaign improperly kept data on tens of... Continue reading at Los Angeles Times

[ Los Angeles Times | 2018-03-19 00:00:00 UTC ]
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Beyond the Page: How Magazines are Extending Their Fall Fashion Issues

Events, interactive features and videos enhance reader and advertiser experience. The post Beyond the Page: How Magazines are Extending Their Fall Fashion Issues appeared first on Folio:. Continue reading at Folio Magazine

[ Folio Magazine | 2017-08-25 00:00:00 UTC ]
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Trump tweet causes Amazon's stock to fall $5bn

Amazon had $5bn (£3.8bn) wiped off its stock market valuation after the US president Donald Trump hit out at the e-commerce giant for doing “great damage to tax paying retailers” in a tweet. Continue reading at The Bookseller

[ The Bookseller | 2017-08-18 00:00:00 UTC ]
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Industry Stocks Were Mixed in 2016

In a boom year for the stock market, which included a 13.4% gain for the Dow Jones Industrial Average, the Publishers Weekly Stock Index rose 11%. Continue reading at Publishers Weekly

[ Publishers Weekly | 2017-01-06 00:00:00 UTC ]
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Industry Stocks: November 2016 Performances

The Publishers Weekly Stock Index fell 3.8% in November as the share prices of five companies on the PWSI fell in the month and prices of another five rose. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-12-02 00:00:00 UTC ]
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Fall 2016 Regionals: All Our Coverage

This year's regional bookseller shows benefited from the continued growth of the indie bookstore channel, which brought in more new bookstore owners and younger frontline booksellers. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-11-10 00:00:00 UTC ]
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Industry Stocks: October 2016 Performances

CBS, parent company of Simon & Schuster, was the only company on the Publishers Weekly Stock Index to have an increase in its stock price in October. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-11-04 00:00:00 UTC ]
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Heartland Fall Forum 2016: Children's Authors Create Magic

What this year's Heartland Fall Forum lacked in terms of bookseller attendance, it made up for in enthusiasm, especially when it came to children's books and authors. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-10-13 00:00:00 UTC ]
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MPIBA 2016: Kids' Booksellers, Authors Get Primed for Fall

With 15 new stores signing on as members in 2016, the Mountains and Plains Independent Bookstore Association is booming. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-10-13 00:00:00 UTC ]
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Heartland Fall Forum 2016: A Midwestern, Great Lakes Reunion

This year's Heartland Fall Forum of MIBA and GLIBA booksellers made up for a lower bookseller attendance with enthusiastic attendees excited to meet authors. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-10-12 00:00:00 UTC ]
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Industry Stocks: September 2016 Performances

The Publishers Weekly Stock Index increased 5.9% in September, but that gain was due almost entirely to the jump in the share price of Amazon, which rose $68.15 to close the month 8.9% ahead of its price at the end of August. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-10-07 00:00:00 UTC ]
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Canadian Publishing 2016: Canadian Kids Publishers Extend Reach into U.S., TV

Canada has a pretty good reputation on the world stage when it comes to publishing children’s books,” says Orca publisher Andrew Wooldridge. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-09-23 00:00:00 UTC ]
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Download: Publishing Perspectives’ Fall 2016 Magazine

In this issue, publishing leaders tell us how they see the book business today and how it might evolve. Plus, read our exclusive Frankfurt Book Fair preview guide. The post Download: Publishing Perspectives’ Fall 2016 Magazine appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2016-09-15 00:00:00 UTC ]
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Industry Stocks: August 2016 Performances

The Publishers Weekly Stock Index inched up 0.5% in August, besting the Dow Jones Industrial Average, which had a 0.2% dip in the month. However, without the $10.35-per-share increase posted by Amazon, the PWSI would have fallen 2.4%. There were five winners and five losers in the month. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-09-02 00:00:00 UTC ]
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Industry Stocks: July 2016 Performances

With eight of the 10 companies listed on the Publishers Weekly Stock Index posting increases in their stock prices in July, the PWSI rose 5.8% in the month, beating the 2.8% increase turned in by the Dow Jones Industrial Average. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-08-05 00:00:00 UTC ]
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Fall 2016 Audio Announcements

The big audiobooks of fall include titles from John le Carré, Jacqueline Woodson, Bruce Springsteen, and more. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-07-08 00:00:00 UTC ]
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Fall 2016 Religion & Spirituality Announcements

We preview the season’s most notable titles, which include a memoir by Tim Tebow, a new devotional by Sarah Young, historical accounts of atheism and biblical translation, and more. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-06-24 00:00:00 UTC ]
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Gilead Announces Inaugural List for Fall 2016

Gilead Publishing, a newly formed Christian fiction house, announced the titles of four books scheduled to publish between October and November 2016. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-06-15 00:00:00 UTC ]
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BookCon Expands to New York Comic Con in Fall 2016

BookCon, the literary fanfest, will become a part of New York Comic Con 2016 in October; held during the 4 days of NYCC at a separate event space nearby and offer access to fans as part of their NYCC badge. Continue reading at Publishers Weekly

[ Publishers Weekly | 2016-06-08 00:00:00 UTC ]
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