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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Where do you want to go? Italy? Thailand? Bob's Burgers? March's cookbooks take you there. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-17 00:00:00 UTC ]
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One of the most notable themes at this year’s New York International Toy Fair emanated from publishing: adult coloring books. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-16 00:00:00 UTC ]
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A delegation of American publishers traveled to Cuba for the 2016 Havana Book Fair and to participate in the first ever U.S. Publishing Mission to Cuba, organized by Publishers Weekly and Combined Book Exhibit. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-16 00:00:00 UTC ]
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This week: Ethan Canin's wonderful, epic novel, plus the collected stories of Peter Straub. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-12 00:00:00 UTC ]
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The massively popular ‘Me Before You’ movie trailer boosts Jojo Moyes’s book to #13 in the country. Plus Samantha Hunt’s 'Mr. Splitfoot' lands on our fiction list a month after publication thanks in part to some book club love, ebook queen Audrey Carlan charts for the first time in print, and... Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-12 00:00:00 UTC ]
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After eight-year slump, 2015 bookstore sales rise and more in this week's publishing news briefs. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-12 00:00:00 UTC ]
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From 'The Martian' to 'Brooklyn,' here is the backstory on 10 books behind Oscar-nominated films. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-12 00:00:00 UTC ]
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New bookstores are opening within the next two months in Gainesville, Fl., and Chicago. And one hightly curated shop, which displays only ten titles, is thriving north of the border in Toronto, Canada. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-12 00:00:00 UTC ]
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Penguin's Price Stern Sloan imprint and National Geographic are the two newest U.S. publishers for 'Star Trek.' They are among a long list of licensees signed by CBS Consumer Products leading up to the property's 50th anniversary. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-11 00:00:00 UTC ]
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Romance author Nicholas Sparks’ lifetime of faith, a book intended for the "spiritual but not religious," and how to use books during Lent are some of the news items creating a buzz today. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-10 00:00:00 UTC ]
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The support for National Libraries Day, which took place on Saturday and saw communities across the UK participate in more than 850 events, was "truly inspirational" and featured endorsements from authors and illustrators Sir Quentin Blake, Michael Rosen and Sarah McIntyre. Continue reading at The Bookseller
[ The Bookseller | 2016-02-09 00:00:00 UTC ]
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The first fiction smuggled out of North Korea sells in the U.S., and an Italian debut by a translator draws international buzz. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-09 00:00:00 UTC ]
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Lawrence Block, author of 'The Girl In the Deep Blue Eyes' (Titan, 978-1-7832-9750-4), will appear on BlogTalkRadio.com with 'Modern Signed Book' podcast host Rodger Nichols on Tuesday, February 9. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-08 00:00:00 UTC ]
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An increase in attendance and strong programming made the February 4-6 annual PubWest conference a lively event for 180 attendees. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-08 00:00:00 UTC ]
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Is it finally the end for NYC’s St. Mark’s Bookshop? Inside the new Prescott, Ariz., bookstore, the Purple Cat. And more details about the new stores coming to Milwaukee and Washington, D.C. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-05 00:00:00 UTC ]
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There was a kind of cockiness in the air at the AMMC this week, based on a growing realization that magazine brands are really, really good at creating world-class content. The post At AMMC 2016, A New Confidence in the Air For Large Magazine Media Brands appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-02-05 00:00:00 UTC ]
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This week: the latest from Jhumpa Lahiri, plus A. O. Scott on how to think about art. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-05 00:00:00 UTC ]
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The bestselling iBooks in mystery, romance, sci-fi, biography, fiction, and more for the week ended January 31, 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-05 00:00:00 UTC ]
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S&S Kids goes to ‘Zero’ for Prendergast and more in this week's notable book deals. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-05 00:00:00 UTC ]
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The combination of a weak market and investors’ disappointment regarding a fourth-quarter report from Amazon drove down many publishing industry stocks in January. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-05 00:00:00 UTC ]
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