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 ]
News tagged with:
#bloomberg intelligence
#—bloomberg news
HyphaMetrics, which enters the marketplace with $2 million investment, says it can measure down to the individual level and across linear, streaming and gaming devices. Continue reading at Advertising Age
[ Advertising Age | 2020-11-02 10:30:00 UTC ]
More news stories like this | All news stories tagged with:
#nielsen
With the Covid-19 pandemic resurgent around the globe, Penguin Random House this week announced that it is extending its Open License for online story time and read-aloud videos through March 31, 2021. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-10-29 04:00:00 UTC ]
More news stories like this | All news stories tagged with:
#penguin random house
#week announced
#online readings
With this fall’s all-online regional trade shows behind them, booksellers are hoping for a return to in-person events next year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-10-23 04:00:00 UTC ]
More news stories like this | All news stories tagged with:
#in-person events
Find fresh new graphic novels like Long Way Down: The Graphic Novel by Jason Reynolds and Danica Novgodoroff for yourself or the young reader in your life. Continue reading at Book Riot
[ Book Riot | 2020-10-22 10:37:00 UTC ]
More news stories like this | All news stories tagged with:
#graphic novel
#young reader
#jason reynolds
#young adults
#graphic novels
Headline Review will publish Always, in December by debut novelist Emily Stone, as a lead launch title in autumn 2021. Continue reading at The Bookseller
[ The Bookseller | 2020-10-20 17:42:51 UTC ]
More news stories like this | All news stories tagged with:
#headline review
#love story
In the absence of in-person book fair meetings, literary agents are hosting webinars to pitch titles at the 2020 Frankfurt Book Fair. The post Frankfurt Events: Riky Stock’s Agent Webinar Picks appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-10-14 23:08:52 UTC ]
More news stories like this | All news stories tagged with:
#book fair
#literary agents
While the Dow Jones Industrial Average rose 7.6% in the quarter ended September 30, the PW Stock Index fell 6.1%, with companies involved in the educational market hit hardest. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-10-02 04:00:00 UTC ]
More news stories like this | All news stories tagged with:
#companies involved
Autumn means changing leaves, apple-based baked goods, decorative gourds, pumpkin spice lattes—and an avalanche of literary award longlists. If you’re feeling overwhelmed by all the must-read National Book Award nominees you’re now realizing you didn’t read, why not base your TBR pile off of... Continue reading at Electric Literature
[ Electric Literature | 2020-09-25 11:00:06 UTC ]
More news stories like this | All news stories tagged with:
#national book award
#literary award
#electric literature
#tbr pile
#read appeared
This fall's independent bookstore regional trade shows started off last week with two big virtual fairs held by three organizations—and did so swimmingly. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-09-25 04:00:00 UTC ]
More news stories like this | All news stories tagged with:
#independent bookstore
The Heartland Summer virtual trade show's final education session for GLIBA and MIBA booksellers featured a panel of publishers explaining the 'witchy science' of determining print runs to keep books moving from printers to bookstores during a tough time for American printers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-09-23 04:00:00 UTC ]
More news stories like this | All news stories tagged with:
#tough time
#american printers
Australia has spoken, and J.K. Rowling is out. Rabble Books & Games in Maylands, Australia, said earlier this week that the store would stop stocking her books due to this, this, or this, all of which, it’s not so wild to presume, have already impacted her book sales. “We are always trying... Continue reading at Literrary Hub
[ Literrary Hub | 2020-09-17 19:06:37 UTC ]
More news stories like this | All news stories tagged with:
#bookstore
#book sales
#books due
PW columnist Nicole A. Cooke on ways to turn antiracist knowledge and education into action. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-09-11 04:00:00 UTC ]
More news stories like this |
This year’s bookseller shows are moving online, but still have plenty of author events, education, and exhibits. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-09-11 04:00:00 UTC ]
More news stories like this | All news stories tagged with:
#bookseller
#author events
IN 1889, the science fiction writer Jules Verne and his son, Michel, envisioned that, in a thousand years, there would be a personally curated newsfeed. What’s really remarkable about that futuristic prediction, says author Rob Brotherton in his new book, Bad News: Why We Fall for Fake News, is... Continue reading at Los Angeles Review of Books
[ Los Angeles Review of Books | 2020-09-05 17:00:41 UTC ]
More news stories like this | All news stories tagged with:
#science fiction
Ijeoma Oluo, Fredrik Backman and Margaret Atwood all have new releases coming up. Continue reading at The Washington Post
[ The Washington Post | 2020-09-05 12:00:00 UTC ]
More news stories like this | All news stories tagged with:
#margaret atwood
#fredrik backman
#ijeoma oluo
#fall reading
Sky News UK host calls former Australian PM a ‘homophobic misogynist’. Plus: David Gonski’s remarkable revelation about Rupert Murdoch They may share a name but there is nothing similar about Sky News UK and Sky News Australia, at least where Tony Abbott is concerned.The Australian Sky is wholly... Continue reading at The Guardian
[ The Guardian | 2020-09-04 01:09:29 UTC ]
More news stories like this | All news stories tagged with:
#news corp
#news corporation
#rupert murdoch
#weekly beast
#tony abbott
#sky falls
#wholly owned
Global revenues at Penguin Random House fell slightly by 1.4% year on year in a "solid" six months to 30th June despite the impact of Covid-19, while parent company Bertelsmann saw group revenues tumble 8.9%. Continue reading at The Bookseller
[ The Bookseller | 2020-09-01 10:51:49 UTC ]
More news stories like this | All news stories tagged with:
#bertelsmann
#penguin random house
#30th june
#global revenues
Just a friendly reminder that tomorrow, August 29th, is Independent Bookstore Day. This year, the festivities will be both online and in-person at 600+ local bookstores around the country, starting tonight with a conversation between Mary Norris and Ann Goldstein about Elena Ferrante’s The Lying... Continue reading at Literrary Hub
[ Literrary Hub | 2020-08-28 17:01:59 UTC ]
More news stories like this | All news stories tagged with:
#independent bookstore
#lying life
#elena ferrante
#ann goldstein
#august 29th
#friendly reminder
For the first time, all eight regional bookseller associations are sponsoring a national kickoff to the fall shows. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-08-27 04:00:00 UTC ]
More news stories like this | All news stories tagged with:
#bookseller
#fall shows
Independent publisher Angry Robot Books has extended indefinitely its open submission window for sci-fi and fantasy novels by black authors, following a positive response to the initiative. Continue reading at The Bookseller
[ The Bookseller | 2020-08-24 03:52:28 UTC ]
More news stories like this | All news stories tagged with:
#independent publisher
#positive response
#black authors
#fantasy novels