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 big change for BISACs in 2016 is new way categories for young adult titles, adding much more granularity to formerly broad categories. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-12-11 00:00:00 UTC ]
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The latest from bestselling Amish inspirational romance author Shelley Shepard Gray, Jim Wallis’ take on racism in America, and popular blogger Stephanie Rische’s dating memoir are just a few of the exciting spirituality and religion titles publishing in January. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-12-09 00:00:00 UTC ]
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Futurebook is Europe's biggest publishing conference bringing together leading thinkers in publishing, retail, editorial, writing, marketing and tech, along with speakers from other industries. Continue reading at The Bookseller
[ The Bookseller | 2015-12-08 00:00:00 UTC ]
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We take a look back at some of the library stories that captivated the publishing world in 2015, and a look ahead at what they portend for 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-12-04 00:00:00 UTC ]
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The American Library Association’s Midwinter Meeting is where the association conducts its business—committees move forward (however glacially), and hardworking but fun-filled awards committees arrive at their hotly contested decisions. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-12-04 00:00:00 UTC ]
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From Jan. 8–12, 2016, the American Library Association’s Midwinter Meeting will return to one of America’s great library cities: Boston. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-12-04 00:00:00 UTC ]
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January's cookbooks find inspiration in Asia's bustling night markets and in one of London's poshest French restaurants. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-12-01 00:00:00 UTC ]
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#cookbooks preview
The number of children in the UK who took part in The Reading Agency’s Summer Reading Challenge this year was down 2.8% on last year’s figure. Continue reading at The Bookseller
[ The Bookseller | 2015-11-27 00:00:00 UTC ]
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The Reading Agency has responded to criticism about the lack of ethnic diversity among authors chosen for the World Book Night 2016 list, saying it is a “great shame” that there are no Black, Asian and Minority Ethnic (BAME) writers included. Continue reading at The Bookseller
[ The Bookseller | 2015-11-26 00:00:00 UTC ]
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World Book Night 2016 has announced the 15 titles it will be giving away next April, including titles from authors Matt Haig, Jonathan Coe and Carol Ann Duffy. Continue reading at The Bookseller
[ The Bookseller | 2015-11-24 00:00:00 UTC ]
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Amazon.co.uk is expanding its Prime same day delivery service across the Midlands, Bristol, Edinburgh, Glasgow and Milton Keynes. The service is now available to residents in Birmingham, Bristol, Dudley, Edinburgh, Glasgow, Milton Keynes, Northampton, Walsall and Wolverhampton, with further... Continue reading at The Bookseller
[ The Bookseller | 2015-11-20 00:00:00 UTC ]
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A parody picture book due out next year pokes fun at over-ambitious parentsFor all those families who found The Rabbit Who Wants to Fall Asleep helped smooth over difficult bedtimes, a new picture book satirising the ambitions of “helicopter” parents for their brilliant offspring is due out next... Continue reading at The Guardian
[ The Guardian | 2015-11-16 00:00:00 UTC ]
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Ingenuity or ruthlessness? Take your choice... but the result is still the sameNewspaper commentators who have been charting the demise of newsprint for the past decade or so have tended to predict that there will be a transformative moment when newspapers go over a cliff.We know it won’t be... Continue reading at The Guardian
[ The Guardian | 2015-11-05 00:00:00 UTC ]
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Books by Michael Morpugo, Francesca Simon and Tony Ross have been shortlisted for this year's Children's Book Awards. The awards are divided into three categories: books for younger children, books for younger readers and books for older readers. Continue reading at The Bookseller
[ The Bookseller | 2015-11-03 00:00:00 UTC ]
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Egmont is to publish Little Monster and the Spooky Party by illustrator Nick Sharratt and author Pippa Goodhart to coincide with Halloween next year. Continue reading at The Bookseller
[ The Bookseller | 2015-10-31 00:00:00 UTC ]
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Supergirl, CBS' entry into the crowded superhero genre, had a successful liftoff last night with audiences. Monday's premiere drew the largest audience of any new fall show, both among 18- to 49-year-olds (a 3.2 rating) and total viewers (12.9 million). That was enough to edge out NBC's... Continue reading at AdWeek
[ AdWeek | 2015-10-27 00:00:00 UTC ]
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#true test
New York Review Comics will launch in March with plans to release six graphic novels per year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-22 00:00:00 UTC ]
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A number of big bestsellers helped to offset 'weaker' ebook sales in the third quarter, Pearson reported. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-21 00:00:00 UTC ]
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The World Book Day Award 2016 (WoBoD), funded by James Patterson, is offering school libraries the chance to win up to £10,000 of new books. Continue reading at The Bookseller
[ The Bookseller | 2015-10-15 00:00:00 UTC ]
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Title will stop running nude pictorials with March 2016 issue. The post Playboy Magazine No Longer NSFW in 2016 appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2015-10-13 00:00:00 UTC ]
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