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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With Amazon’s stock price closing at a 52-week high of $722.79 on May 31, the Publishers Weekly Stock Index rose 6.9% in the month. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-06-03 00:00:00 UTC ]
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It’s been a long time since Jay McInerney attended a BEA, “at least 10 years,” says the author, whose highly anticipated new novel, Bright, Precious Days (Knopf) will land in bookstores this August. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-05-11 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Wed, 02/11/2011 - 14:09 The latest annual statistics for the public library service show further falls in overall usage of the service amid a continuing decline in spending. Both the number of library "service points" on offer and the number of... Continue reading at The Bookseller
[ The Bookseller | 2011-11-02 00:00:00 UTC ]
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Bookselling’s regional associations put the finishing touches on their 2024 trade shows. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-08-16 04:00:00 UTC ]
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This year’s fall gatherings provide booksellers across the country with plenty of opportunities to meet authors, collect ARCs, and network with other booksellers as well as publishers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-08-16 04:00:00 UTC ]
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With summer on the wane and holiday titles on order, excitement around this fall’s fiction, nonfiction, and children’s books is building. PW talked with booksellers about what they’ll be handselling and displaying in the coming months. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-08-16 04:00:00 UTC ]
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Booksellers, exhibitors, and authors alike can expect a mix of business and camaraderie at this year's fall trade shows. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-25 04:00:00 UTC ]
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Moriarty tells a fresh, juicy tale about four siblings and their tennis-obsessed parents. Continue reading at The Washington Post
[ The Washington Post | 2021-09-16 14:28:19 UTC ]
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Last year the Frankfurt Book Fair and Publishing Perspectives launched a new conference, the Markets: Global Publishing Summit. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-11 00:00:00 UTC ]
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German author-illustrator Rotraut Susanne Berner and Chinese author Cao Wenxuan are the winners of the 2016 Hans Christian Andersen Award for illustration and writing. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-05 00:00:00 UTC ]
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Our friends at AudioFile magazine recommend the best fall audiobooks, from Sally Rooney’s buzzy new Intermezzo to a delicious memoir from actor Stanley Tucci, plus Earphones Award–winning audiobooks from Rumaan Alam, Liane Moriarty, Rachel Kushner, and more. This is listening to settle in with.... Continue reading at The Millions
[ The Millions | 2024-10-29 12:00:00 UTC ]
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RFR Holding is more than 90 days delinquent on the mortgage for 90 Fifth Ave., according to Fitch Ratings, the latest sign of mounting strain for the developer fighting eviction from the Chrysler Building.The 140,000 square-foot building at the corner of West 14th Street is a small part of RFR’s... Continue reading at Crains New York
[ Crains New York | 2024-10-25 17:48:58 UTC ]
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Daily Telegraph talks up chances Charles will attend the Everest. Plus: ABC splashes cash on redesignFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastWith King Charles and Queen Camilla arriving on Friday for the couple’s first... Continue reading at The Guardian
[ The Guardian | 2024-10-18 01:06:28 UTC ]
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I’ve been reading from outside of Phoenix, where there have been over 120 days of 100 degree temperatures as summer comes to a close. With Hurricane Helene devastating the Southeast and war spreading in the Middle East, the uncertainty about our collective futures—whether it is from climate... Continue reading at Electric Literature
[ Electric Literature | 2024-10-11 11:05:00 UTC ]
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After a day of celebration, the 250 booksellers attending Heartland Fall Forum focused on the business of bookselling, with a busy trade show followed by a day of education as veteran booksellers mixed with 114 first-time attendees. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-10-10 04:00:00 UTC ]
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Through this new partnership, authors submitting manuscripts to Springer Nature can share code and data through Code Ocean. The post Academic Publishing: Springer Nature and Code Ocean Extend a Partnership appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-09-23 18:31:45 UTC ]
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Fall is the season of Big Books: the mega-hyped, the much-recommended, and the written-by-celebrities. And despite the fact that we’re in a (god-forsaken) election year, the literary cup, as usual, runneth over. So how’s a discerning gal or guy to choose which Big Book to read (first)? Just like... Continue reading at Literrary Hub
[ Literrary Hub | 2024-09-23 08:56:27 UTC ]
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It’s Big Book Season again, and you know what that means: lists. (Yes, there are also lists during all the other seasons. Lists are (chaotic?) good.) It also means that it’s time again for Literary Hub’s Ultimate Fall Reading List, in which I valiantly endeavor to read all the seasonal literary... Continue reading at Literrary Hub
[ Literrary Hub | 2024-09-17 08:57:52 UTC ]
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We knew Amazon would revive its Prime Big Deal Days sale event this fall, but we didn’t know the exact dates until today. The online retailer announced that the sale event will return this year on October 8 and 9, giving us all the more reason to call it October Prime Day as we have done in... Continue reading at Engadget
[ Engadget | 2024-09-17 05:03:56 UTC ]
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This year's New England Independent Booksellers Association conference, held September 11–13, brought together booksellers, publishers, and authors and highlighted such industry trends as the rising price of books and strong sales of horror and fantasy titles. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-09-17 04:00:00 UTC ]
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