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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The bestselling iBooks in mystery, romance, sci-fi, biography, fiction, and more for the week ended May 1, 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-06 00:00:00 UTC ]
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Apply now to the 2016 Frankfurt Book Fair Fellowship Program which includes a tour of German publishing, a trip to the Frankfurt Book Fair, and exclusive networking and career-building opportunities. The post Apply to the 2016 Frankfurt Book Fair Fellowship by April 30 appeared first on... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2016-03-05 00:00:00 UTC ]
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Grab your TARDIS-blue pencil: the ‘Doctor Who Coloring Book’ is the #1 book in the country. Plus a cookbook by 'Sport Illustrated' swimsuit model Chrissy Teigen debuts at #1 in Hardcover Nonfiction, book 7 in Kazu Kibuishi’s Amulet graphic novel series is #1 in Children’s Frontlist Nonfiction,... Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-04 00:00:00 UTC ]
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Unit sales of print books rose 5% in the week ended Feb. 28, 2016, over the similar week last year, at outlets that report to Nielsen BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-04 00:00:00 UTC ]
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This week: new Dana Spiotta, redeeming the "Kama Sutra," and the quest to find the true age of the universe. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-04 00:00:00 UTC ]
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Soho closed a doubleheader; Balzer + Bray signed a new duology by Sara Raasch; and Greenwillow books signed Kimberley Derting. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-04 00:00:00 UTC ]
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The bestselling iBooks in mystery, romance, sci-fi, biography, fiction, and more for the week ended February 28, 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-04 00:00:00 UTC ]
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The Publishers Weekly Stock Index fell 3.6% overall, with declining share prices for Amazon and News Corp. offsetting gains elsewhere. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-04 00:00:00 UTC ]
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Amazon is adding its first campus pick-up location; Harvard is experimenting with an indie bookstore; NYC is about to get two new indies; and East Hampton's local bookstore is changing hands. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-03 00:00:00 UTC ]
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Sacks was recognized for his work and writings that emphasize a respect for all faiths and defend the compatibility of religion and science. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-02 00:00:00 UTC ]
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Leading publishers identify the trends that will most impact them in 2016, and how they’re positioning their companies to capitalize. The post Outlook 2016: Trends that Matter appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-03-02 00:00:00 UTC ]
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BookExpo America has named the books that will be championed during its three buzz panels at this year's BEA convention in Chicago. In the past two years, nine of their selections have been NYT bestsellers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-02 00:00:00 UTC ]
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Submissions now are open for the 2016 Polari First Book Prize, for debut books that explore the LGBT experience in poetry or prose, fiction or non-fiction. The post Submissions Open for the UK’s Polari First Book Prize 2016 appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2016-03-01 00:00:00 UTC ]
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A flurry of new bookstores are opening; Minneapolis’s Once Upon a Crime is changing hands; and two Seattle stores, once projected to close, are keeping the lights on. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-03-01 00:00:00 UTC ]
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The bestselling iBooks in mystery, romance, sci-fi, biography, fiction, and more for the week ended February 21, 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-26 00:00:00 UTC ]
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'A Mother’s Reckoning' by Sue Klebold, the #10 book in the country, is one of two nonfiction titles on our lists this week to address a crime that earned national attention. Plus Kate Hudson jumps on the celebrity lifestyle publishing bandwagon, ‘The Widow’ joins the burgeoning psychological... Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-26 00:00:00 UTC ]
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This week: a novel about the controversial Little Albert experiment, and Tom Bissell travels to the tombs of the apostles. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-26 00:00:00 UTC ]
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Simon & Schuster’s Atheneum imprint buys a picture book by Richard T. Morris, Da Capo nabs a book about the battle of Antietam, Dial signs Jessica Taylor for two YA novels, and more in this week's notable book deals. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-26 00:00:00 UTC ]
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A photographic study of Soviet bus stops and a craft manual for flexible children go head to head with a cultural history of the anus on the shortlist for the 38th Diagram prizeDiagram prize: oddest book title shortlist gets behind cultural history of the anus Continue reading... Continue reading at The Guardian
[ The Guardian | 2016-02-26 00:00:00 UTC ]
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Issuing a call for papers, Frankfurt Book Fair and Publishing Perspectives announce the seven-nation focus for 'The Markets' 2016. Regions highlighted include Southeast Asia, Europe, South America, and the Middle East. The post ‘The Markets’ Announced for 2016’s Global Summit at Frankfurt Book... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2016-02-25 00:00:00 UTC ]
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