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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Research by the Bookseller shows that sales for the ‘big five’ UK publishers dropped in 2015Ebook sales for the UK’s five biggest publishers fell in 2015, according to a new report in the Bookseller, collectively declining 2.4%, to 47.9m units. It is the first drop in numbers of books sold in... Continue reading at The Guardian
[ The Guardian | 2016-02-03 00:00:00 UTC ]
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Held annually in the French medieval-era city of Angouleme, the Festival International de la Bande Dessinee is one of the most prestigious comics festival in Europe. Publishers Weekly was on hand to bring back images of the Festival. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-02 00:00:00 UTC ]
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Here are some ideas for indie booksellers gleaned at this year's ABA Winter Institute, held in Denver January 23–26. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-02 00:00:00 UTC ]
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While the focus was primarily on the offerings for adult readers among the 625 booksellers attending this year's Winter Institute, children's publishers and authors also took their turns in the limelight at the annual gathering of publishers' reps, authors, and booksellers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-02 00:00:00 UTC ]
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In case you missed it, here's a roundup of our top stories from the week in magazine media: After 19 Years as EIC, The post Folio: Week in Review – January 30, 2016 appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-01-30 00:00:00 UTC ]
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The Belgian cartoonist won the lifetime achievement award at a festival in France this week. Usually a cause for celebration, the award was shrouded in controversy this year after its lengthy initial list of nominees featured only men. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-29 00:00:00 UTC ]
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‘The Power of Broke’ by FUBU founder and ‘Shark Tank’ costar debuts at #4 in Hardcover Nonfiction. Plus this year’s Newbery winner makes its picture book list debut, the movie tie-in edition of ‘The Choice’ nabs two of the overall top 10 spots, coloring books talk dirty, and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-29 00:00:00 UTC ]
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What will independent booksellers be handselling this season? We spoke with 12 booksellers throughout North America who are looking forward to pushing everything from buzzed-about debuts and under-the-radar experimental novels. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-29 00:00:00 UTC ]
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The children’s book industry will continue to see demand for beautiful print books and diverse stories in 2016, and the market for Young Adult titles by UK authors will go from strength to strength, according to publishers and editors. Continue reading at The Bookseller
[ The Bookseller | 2016-01-29 00:00:00 UTC ]
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This week: a fox named Pax, a new novel from Yann Martel, plus an anthology of modern Chinese literature. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-29 00:00:00 UTC ]
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Carolrhoda Books nabs a debut novel by a screenwriter, Jennifer Alvarez re-ups at HC Children’s Books to continue her equine fantasy series, Bloomsbury gets into the Halo business, and more in this week's notable book deals. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-29 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 24, 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-29 00:00:00 UTC ]
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Amazon’s 2015 revenue tops $100 billion and more in this week's publishing news briefs. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-29 00:00:00 UTC ]
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A children’s bookstore in Bluffton, S.C., changes hands; stores in Newport Beach, Calif., and Springfield, Oh., expand; and a bookstore in Portland, Ore., reopens. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-29 00:00:00 UTC ]
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Imprint, part of the Macmillan Children’s Publishing Group, has signed on as the master publisher for Project MC2, a tween-focused doll-and-content property with math and science themes. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-28 00:00:00 UTC ]
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New books from Jamie Snyder, Susan Jacoby, and Jessa Crispin are among the big religion and spirituality titles publishing in February. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-27 00:00:00 UTC ]
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The kids who helped Pope Francis write a children’s book and a book of spiritual songs owned by the judge of the Salem Witch Trials are among the most-talked about news items in religion and spirituality publishing today. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-27 00:00:00 UTC ]
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A story by Potter titled 'The Tale of Kitty-in-Boots' was recently found and will be released by Penguin Random House in September. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2016-01-27 00:00:00 UTC ]
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This year’s bookstore finalists represent a broad range of general independent bookstores, both big and small. The winner will be named in March. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-26 00:00:00 UTC ]
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The American Booksellers Association and Civic Economics released a report on the devastating impact of online retailing on American communities in terms of lost state and local tax revenues. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-01-25 00:00:00 UTC ]
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