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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My introduction to romance novels came when my high school crush handed me a book written by his mother’s friend under a pen name. It was all very hush hush, no one knew what the author’s real identity was, but he trusted me with this big secret (which might have been the first grand romantic... Continue reading at Electric Literature
[ Electric Literature | 2023-10-12 11:00:00 UTC ]
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Your guide to all things fall 2023 YA paperback books is here. Whether you love nonfiction, fantasy, romance, or something else, you're in luck this season. Continue reading at Book Riot
[ Book Riot | 2023-10-03 10:31:00 UTC ]
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No one emerges with much credit in Wolff’s second study of Rupert Murdoch and his family – a gossipy story of power and greed peppered with endless layers of psychological insightFifteen years ago, Michael Wolff wrote a study of Rupert Murdoch entitled The Man Who Owns the News. It benefited... Continue reading at The Guardian
[ The Guardian | 2023-10-02 06:00:06 UTC ]
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The Fire and Fury author returns with a typically readable account of the declining years of a rightwing media behemothIn September, Rupert Murdoch ceded direct control of Fox and News Corp to Lachlan Murdoch, his oldest son. At 92, Rupert became chairman emeritus. He is off the stage but... Continue reading at The Guardian
[ The Guardian | 2023-10-01 06:00:36 UTC ]
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The California Independent Booksellers Alliance’s dynamic Fall Fest hustled attendees between author events, rep picks, tech tips, a Drag Story Hour session on hosting controversial events, and soirées during two jammed-packed days September 27-28 at the South San Francisco Conference Center. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-29 04:00:00 UTC ]
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From new series to high fantasy, rom coms to chilling horror, your guide to fall 2023 ya book releases has everything. Continue reading at Book Riot
[ Book Riot | 2023-09-28 10:36:00 UTC ]
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As we move into the fall reading season, deeply imagined short stories and inventive linked essays are having a moment alongside novels. What’s thrilling about the books coming out from small presses is the breadth of range—there are intentional and accidental murders, family drama and... Continue reading at Electric Literature
[ Electric Literature | 2023-09-26 11:15:00 UTC ]
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Genre fiction by such authors as Colleen Hoover, N.K. Jemisin, and Rebecca Roanhorse remains extremely popular with readers. As publishers increase their output to meet demand, booksellers are making more and more room on their shelves for the titles. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-22 04:00:00 UTC ]
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The Pacific Northwest Booksellers Association concluded its Fall Tradeshow in Portland, Ore., with an author breakfast and bookseller education programming. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-22 04:00:00 UTC ]
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Publishers of interactive formats extend key franchises with exciting new titles and products. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-09-01 04:00:00 UTC ]
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The combination of its decision to streamline its business and softer industry sales resulted in revenue at Quarto Group falling 16% in the first half of 2023, to $52 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-30 04:00:00 UTC ]
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With the summer season winding down, media companies like The New York Times and Hearst are beginning to push employees to work from the office more regularly, reigniting media unions' years-long efforts to organize around the issue. Continue reading at Digiday
[ Digiday | 2023-08-28 04:01:00 UTC ]
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Sailing into a new decade, New England’s indie organization glances back and charts its course. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-25 04:00:00 UTC ]
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It's been more than three years since the launch of online retailer Bookshop.org, and the online retailer is eager to remove Amazon’s stranglehold on online sales. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-25 04:00:00 UTC ]
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This year’s gatherings provide opportunities for booksellers to rub shoulders with authors and strategize about challenges facing the book world. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-25 04:00:00 UTC ]
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Every fall season, bookseller enthusiasm builds for certain subjects, and novels—notably high-stakes historical fiction and immersive work in translation—are extra hot for 2023. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-25 04:00:00 UTC ]
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From upstarts to stalwarts, independent presses are stocking the upcoming season with unconventional and adventurous books. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-25 04:00:00 UTC ]
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It’s been a busy year for the Book Industry Charitable Foundation, which is rolling out a series of new programs designed to diversify the industry. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-25 04:00:00 UTC ]
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The season’s most anticipated releases run the gamut, from rediscovered literary gems to spine-tingling suspense to candid memoir. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-08-25 04:00:00 UTC ]
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I was deep in the throes of a slow-moving depression, feeling frustrated with a job I had held for seven years, and reeling from the disappointment of a first novel that debuted without the critical and commercial acclaim I was afraid to admit I desired. So I called my mother. “I think I need a […] Continue reading at Literrary Hub
[ Literrary Hub | 2023-08-09 09:10:27 UTC ]
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