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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Sales fell 3% at John Wiley in the second quarter ended October 31, largely due to a 14% revenue decline in its academic and publishing learning group. Trouble in the group prompted the company to lower its revenue forecast for fiscal 2023, though its earnings predictions remained intact. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-12-07 05:00:00 UTC ]
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After two years of dealing with Covid restrictions, fall book festivals returned in earnest this year, providing readers opportunities to engage with some of publishing’s best-known authors. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-11 05:00:00 UTC ]
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Women have faced gender-based discrimination in the workforce throughout history, denied employment in all but a handful of subservient roles, regularly ignored for promotions and pay raises — and rarely ever compensated at the same rates as their male peers. This long and storied socioeconomic... Continue reading at Engadget
[ Engadget | 2022-10-30 14:30:31 UTC ]
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The vending machine, created by Bogle Bartle Hegarty, was placed at Comic Con in London, as part of a seasonally appropriate activation for the new Netflix series The Bastard Son & The Devil Himself. Continue reading at Media Week
[ Media Week | 2022-10-28 12:44:39 UTC ]
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Heartland Fall Forum in St. Louis was, booksellers and exhibitors reported, the most exciting regional in years, with an influx of young and BIPOC booksellers giving the show a boost of energy. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-17 04:00:00 UTC ]
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Heartland Fall Forum, the 10th joint show co-hosted by the Midwest Indie Booksellers and Great Lakes Indies Booksellers associations, kicked off yesterday evening in St. Louis with a raucous awards ceremony. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-13 04:00:00 UTC ]
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Booksellers appreciated the mix of big and small and regional and national publishers who made the trip to Tacoma for the Pacific Northwest Booksellers Association fall trade show. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-22 04:00:00 UTC ]
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Titles for many tastes: a posthumous memoir by Michael K. Williams, a new recording of an 18th-century romance and a sweeping African novel Continue reading at The Washington Post
[ The Washington Post | 2022-09-10 11:00:03 UTC ]
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New books by Megan Goldin, Jonathan Ames, Laurie Loewenstein, William Kent Krueger and Tracey Lien offer a murder-and-mayhem tour across the globe Continue reading at The Washington Post
[ The Washington Post | 2022-09-03 11:00:28 UTC ]
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The upcoming season is rich with strong titles from independent and university presses. Here are 20, for adults and kids, to put on your radar. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-26 04:00:00 UTC ]
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This season’s regional shows mark the first time that many booksellers have been able to get together in person since the start of the pandemic. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-26 04:00:00 UTC ]
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The first in-person Heartland Fall Forum since 2019 will be used to mark the first decade of the partnership between the Great Lakes Independent Booksellers Association and the Midwest Independent Booksellers Association, which resulted in HFF. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-26 04:00:00 UTC ]
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This year’s bookseller gatherings offer plenty of opportunities for meeting authors and illustrators and sharing bookselling tips. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-26 04:00:00 UTC ]
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Indie bookstores are looking forward to a strong season, with new releases from Michelle Obama and other heavy hitters. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-26 04:00:00 UTC ]
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According to a survey of booksellers PW conducted across the country, a broad selection of new releases for all ages and in all genres is certain to appeal to readers—particularly in the children’s category. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-25 04:00:00 UTC ]
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Stocks that traded heavily or had substantial price changes Tuesday: Micron, Novavax fall; Qualys, Nielsen Holdings rise Continue reading at ABC News
[ ABC News | 2022-08-09 20:13:11 UTC ]
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Reach, which also publishes the Star and the Express titles, says Ukraine war has affected advertisingThe rising cost of paper has dented profits at the publishing company Reach, which owns titles including the Mirror, the Express and dozens of local newspapers.Physical newsprint costs have... Continue reading at The Guardian
[ The Guardian | 2022-07-26 11:26:46 UTC ]
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Looking for the best book club books for summer and fall 2022? This guide has something for every kind of book club. Continue reading at Book Riot
[ Book Riot | 2022-06-24 10:32:00 UTC ]
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Executive directors at regional bookseller associations across the country believe that conditions are right for big turnouts at their in-person fall shows. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-06-17 04:00:00 UTC ]
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A tough year for the stock market got worse in April, leading the Publishers Weekly Stock Index, now down to only six companies, to drop 8.8%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-05-06 04:00:00 UTC ]
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