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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#bloomberg intelligence
#—bloomberg news
Marvel says the new comic book series will kick off with everyone's favorite A-List Avengers. Continue reading at The Huffington Post
[ The Huffington Post | 2022-04-13 22:29:27 UTC ]
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#comic book
Ayanna Lloyd Banwo’s debut novel When We Were Birds begins in the time before time and follows the uneasy truce between the living and the dead. Cigarettes are offered, liquor is poured, prayers are said, all in the hope that the buried stay buried. This is the story of Yejide, a young woman who... Continue reading at Electric Literature
[ Electric Literature | 2022-04-01 11:00:00 UTC ]
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#electric literature
#debut novel
The Toy Association, the trade group serving the $32.6 billion toy industry, has announced that Toy Fair New York will return after its Covid hiatus, but not until September 2023. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-03-31 00:00:00 UTC ]
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Stocks that traded heavily or had substantial price changes Monday: Boeing, Nielsen fall; Alleghany, Anaplan rise Continue reading at ABC News
[ ABC News | 2022-03-21 21:37:31 UTC ]
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If you’ve been paying attention to local news, you know the wave of book bans sweeping the nation isn’t slowing down—but people are pushing back. PEN America continues to speak out against censorship; a professor has offered to teach Maus to all students affected by its ban; the Authors Guild... Continue reading at Literrary Hub
[ Literrary Hub | 2022-03-17 15:55:49 UTC ]
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#local news
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Stocks that traded heavily or had substantial price changes Friday: DocuSign, Zumiez fall; Pfizer, Pearson rise Continue reading at ABC News
[ ABC News | 2022-03-11 21:18:01 UTC ]
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Her memoir describes her long career in diplomacy and her unwitting entanglement in Donald Trump's schemes. Continue reading at The Washington Post
[ The Washington Post | 2022-03-11 18:24:57 UTC ]
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Knopf has announced it will be publishing two new novels by Cormac McCarthy. 'The Passenger' is set for October 25 and 'Stella Maris' for November 22, with both titles will being published together, as a box set, on December 6. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-03-08 05:00:00 UTC ]
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In March 2016, years of legal wrangling over the DOJ’s e-book price-fixing suit against Apple and five publishers ended when the Supreme Court declined to hear Apple’s appeal. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-03-04 05:00:00 UTC ]
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#hear apple
#legal wrangling
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People turn to large Android tablets for streaming and even work, and Samsung’s new Galaxy Tab S8 family of tablets—with screens now up to 14.1 inches—offer massive, detailed displays for both consuming and creating content. While the large panels can feel a little awkward in tablet mode,... Continue reading at PC World
[ PC World | 2022-02-09 15:00:00 UTC ]
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#single app
#portrait mode
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After increasing 8% in 2020 and 9% in 2021, it is unlikely that unit sales of print books will grow again in 2022, Kristen McLean, executive director and industry analyst for NPD/BookScan Books. She noted the importance of several other trends, including the influence of BookTok and the growth... Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-01-28 05:00:00 UTC ]
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#print books
#kristen mclean
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The past two years saw strong gains in unit sales of print books due to the pandemic and other factors, but that trend is unlikely to continue this year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-01-28 05:00:00 UTC ]
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#print sales
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HarperCollins has released its first ethnicity pay gap report alongside its annual one for gender pay, announcing it will now use diverse, balanced shortlists for senior roles. Continue reading at The Bookseller
[ The Bookseller | 2022-01-25 13:17:00 UTC ]
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#gender pay
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This week brought deals on Apple devices, gaming gear and more. The Mac Mini M1 remains on sale for $600 while the 3rd-generation AirPods are back down to a record low of $140. Nintendo's Ring Fit Adventure is back in stock and $25 off, while you can still get a one-year Switch Online family... Continue reading at Engadget
[ Engadget | 2022-01-14 16:45:01 UTC ]
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#fmengadget readers
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Financial results from Educational Development Corp. continue to suffer from comparisons to the record highs they hit last year, although EDC said sales through the first nine months of the year are still ahead of pre-pandemic levels. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-01-07 05:00:00 UTC ]
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#edc sales
#earnings fall
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After falling 4% in 2020, the Publishers Weekly Stock Index had a strong rebound in 2021, rising 32% for the year, well ahead of the 18.7% gain posted by the Dow Jones Industrial Average, with several companies seeing a reversal of fortune in the year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-01-07 05:00:00 UTC ]
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Organisers of a crowdfunder for the White Review have stretched the target by an additional £6,000 after sailing past their original £10,000 goal. Continue reading at The Bookseller
[ The Bookseller | 2021-12-23 08:46:01 UTC ]
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#white review
Galley Beggar Press has landed The Book of Desire, Meena Kandasamy’s "feminist intervention and reclamation" of an ancient classical Indian text. Continue reading at The Bookseller
[ The Bookseller | 2021-12-14 14:03:11 UTC ]
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What are this year’s top stocking stuffers and can this year’s judge play fair? Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-12-06 11:00:00 UTC ]
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Continuing our series looking behind the headlines of 2021, we speak to the philosophy professor who resigned from Sussex University after protests over her views on gender and transgender rightsGaza bookseller Samir Mansour: ‘It was shocking to realise I was a target’When Kathleen Stock opens... Continue reading at The Guardian
[ The Guardian | 2021-12-05 10:00:51 UTC ]
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#important thing
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