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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After a virutal debut, an inaugural in-person version of the trade show will launch August 7–10 in Arlington, Va. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-28 04:00:00 UTC ]
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A flat sales performance by the adult category and smaller declines in the children’s segments than has been typical in recent weeks resulted in a smaller decline in total unit sales of print books last week. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-13 04:00:00 UTC ]
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Simon & Schuster imprint Gallery Books will publish 'The Woman in Me' on October 24. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-12 04:00:00 UTC ]
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The lineup for this year’s fall regional booksellers shows is complete, with six shows being held across the country from August to October. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-06-16 04:00:00 UTC ]
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Lorrie Moore's fourth novel, 'I Am Homeless If This is Not My Home,' follows a grieving man through the chaos of 2016 and some wondrous metaphysical byways. Continue reading at Los Angeles Times
[ Los Angeles Times | 2023-06-14 13:00:25 UTC ]
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The season of sitting outside in the sun and reading is upon us — and, fortunately, so is a sale on Kindle e-readers. Amazon is running a deal on its adult and kids Kindles, with the original model down from $100 to $80 — a 16 percent discount. At this price, the base model is just short of its... Continue reading at Engadget
[ Engadget | 2023-06-12 10:55:39 UTC ]
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A Little Golden Book biography of Taylor Swift sold more than 102,000 copies in first week on sale, but sales in all major categories still fell. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-11 04:00:00 UTC ]
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The stock price of Chegg, the online learning platform for university students, fell 48% Tuesday, after its CEO reported that a spike in interest by students in ChatGPT resulted in lower than expected results in the first quarter. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-03 04:00:00 UTC ]
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Some of them posed for photos – and before they knew it they had become the face of skin lightening, bad boyfriends, penis disorders and Canadian immigration. What’s it like when your image goes around the world?Stock images are everywhere, and you probably rarely notice them: on billboards and... Continue reading at The Guardian
[ The Guardian | 2023-04-08 09:00:18 UTC ]
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It's Friday, which means it's time for another roundup of good tech deals. Today's highlights include Amazon's Kindle Paperwhite back down to $100, which is within $5 of the popular e-reader's all-time low. Apple's AirPods Pro are $50 off their list price at $200, while the Apple Watch SE is a... Continue reading at Engadget
[ Engadget | 2023-04-07 15:00:31 UTC ]
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Teju Cole’s new novel Tremor will be published by Random House this October. Cole told Lit Hub: The best book designs are, in my view, not illustrative. They stand as their own thing in some sort of relation to the book, at a cooperative angle to it. I feel lucky to have worked with the […] Continue reading at Literrary Hub
[ Literrary Hub | 2023-04-03 14:00:48 UTC ]
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Stocks that traded heavily or had substantial price changes Friday: Oxford Industries, Scholastic fall, Activision rises Continue reading at ABC News
[ ABC News | 2023-03-24 20:31:47 UTC ]
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This year’s Nielsen table shows 12 months of growth among the UK’s leading creative agencies, albeit on a smaller scale than in 2021 and not spread evenly across the board Continue reading at Media Week
[ Media Week | 2023-03-23 14:34:42 UTC ]
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This morning, Penguin Press announced that they will be publishing Zadie Smith’s next novel, The Fraud, on September 5, 2023. Here’s how the publisher describes the book: From acclaimed and bestselling novelist Zadie Smith, The Fraud is a kaleidoscopic work of historical fiction set against the... Continue reading at Literrary Hub
[ Literrary Hub | 2023-03-02 14:57:55 UTC ]
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Amazon's Kindle Paperwhite Kids tablet offers a more eye-friendly reading experience than the regular Kindle Kids, but that features comes at a premium price. Right now, though, they're on sale with the biggest discounts we've seen yet, letting you grab one for just $105 or $55 (34 percent) off... Continue reading at Engadget
[ Engadget | 2023-02-22 11:58:13 UTC ]
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Lovers of gorgeous prose and ghost-soaked literary fiction rejoice: two-time National Book Award winner Jesmyn Ward’s next novel officially has a release date. Let Us Descend, Ward’s first novel in five years (since 2017’s Sing, Unburied Sing) will be published by Scribner on October 3. The... Continue reading at Literrary Hub
[ Literrary Hub | 2023-01-27 15:09:45 UTC ]
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Shares of the digital media company have been struggling since it went public in a SPAC deal in late 2021. If you’re an owner of BuzzFeed stock (Nasdaq: BZFD), the last 24 hours have been very good for you. Yesterday, the stock soared thanks to news that BuzzFeed was partnering with OpenAI to... Continue reading at Fast Company
[ Fast Company | 2023-01-27 08:45:00 UTC ]
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Views range from sympathy for the Sussexes in light of treatment by royals and tabloids, to regarding them as being ‘as entitled as the others’Prince Harry’s tell-all autobiography has become the UK’s fastest-selling nonfiction book ever. The memoir has been controversial, with Harry making... Continue reading at The Guardian
[ The Guardian | 2023-01-13 12:09:22 UTC ]
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While it's a bit late for most tech gifts to ship in time for Christmas, there are still many deals going on for those looking to buy something nice for themselves. Apple's AirPods Pro, for one, are down to an all-time low of $200, while Sony's WF-1000XM4 earbuds are still at a low of $178.... Continue reading at Engadget
[ Engadget | 2022-12-23 17:30:24 UTC ]
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Sony announced the release window today for Marvel’s Spider-Man 2, the sequel to 2018's Marvel's Spider-Man and 2020's Spider-Man: Miles Morales. The PlayStation 5 exclusive will launch in the fall of 2023.Insomniac Games’ sequel continues the stories of Peter Parker and Miles Morales as they... Continue reading at Engadget
[ Engadget | 2022-12-15 18:51:23 UTC ]
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