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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Hearst UK reports fall in pre-tax profits from £12.7m to £8.7mHearst UK, the publisher of titles including Men’s Health, Esquire and Cosmopolitan, saw pre-tax profits fall by more than 30% last year.Hearst UK reported a 31.5% fall in pre-tax profits from £12.7m to £8.7m in 2014. Continue reading... Continue reading at The Guardian
[ The Guardian | 2015-10-12 00:00:00 UTC ]
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Publishers are kicking off 2016 with débuts they hope to launch as the next big thing. Continue reading at The Bookseller
[ The Bookseller | 2015-10-12 00:00:00 UTC ]
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The Publishers Weekly Stock Index slipped 2.5% in September, a slightly worse performance than the Dow Jones Industrial Average, which dipped 1.5% in the month. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-02 00:00:00 UTC ]
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The world’s most famous, and bestselling, book is also one of the most perplexing. Rank-and-file Christians, clergy, and scholars offer wildly disparate interpretations of the Bible’s collection of texts: some foster engagement, while others ignite passionate debates. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-10-02 00:00:00 UTC ]
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The Muppets is just one of several freshman shows with a pre-sold brand the networks hope give them an edge this fall. The prime-time schedule includes two movie adaptations (Fox's Minority Report, CBS' Limitless), a spinoff (NBC's Chicago Med), a revival (NBC's Heroes Reborn) and a comic book... Continue reading at AdWeek
[ AdWeek | 2015-09-21 00:00:00 UTC ]
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The National Book Awards will not run in 2015, The Bookseller can confirm. Cactus TV, which has produced the consumer-focused awards since the closure of Publishing News in 2008, said an update about a 2016 ceremony would be issued soon. Continue reading at The Bookseller
[ The Bookseller | 2015-09-19 00:00:00 UTC ]
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The deadline for the first Bookseller marketing competition has been extended until the 18th September, giving publishers until this Friday to enter their campaigns. Continue reading at The Bookseller
[ The Bookseller | 2015-09-17 00:00:00 UTC ]
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Authors Guild says median income for members has fallen 24% in five years, with piracy, Amazon and publishing economies contributing to slump in earningsThe earnings of more than half of American authors fell below the US federal poverty level last year, according to a survey from the Authors... Continue reading at The Guardian
[ The Guardian | 2015-09-15 00:00:00 UTC ]
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The organization is selling $99 tickets to the reading public for the first time, and offering author meet-and-greets as part of the package. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-04 00:00:00 UTC ]
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It's back-to-school season, so in the spirit of continued education, we asked top editors for their book picks for the fall. Cosmo editor-in-chief Joanna Coles recommended "Alexander Hamilton" by Ron Chernow for lovers of American history. The forthcoming memoir of Carrie Brownstein "Hunger... Continue reading at Digiday
[ Digiday | 2015-09-04 00:00:00 UTC ]
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Publishers will be using profit-and-loss statements to educate booksellers about their financial realities at this year's regional trade shows. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-04 00:00:00 UTC ]
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What’s in store at the annual booksellers associations’ gatherings, which kick off the week of September 14. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-04 00:00:00 UTC ]
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Here is a selection of some of the hundreds of authors who will be at this season’s regional shows. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-04 00:00:00 UTC ]
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A selection of some of the hundreds of children's book authors who will be at this season’s regional shows. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-04 00:00:00 UTC ]
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Booksellers from across the country share standout books with strong regional ties. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-04 00:00:00 UTC ]
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Carl-Johan Forssén Ehrlin’s self-published bestseller to get traditional edition with Penguin Random HouseThe Swedish author of this summer’s surprise self-published hit, a bedtime story that promises to “make anyone fall asleep” using positive reinforcement techniques and plenty of yawns, has... Continue reading at The Guardian
[ The Guardian | 2015-09-03 00:00:00 UTC ]
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EL James' consistently bestselling "Grey" fell a staggering eight spots to #12 on iBooks bestseller list for the week ended Aug. 31. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-02 00:00:00 UTC ]
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Book sales of traditionally published books in the US fell by almost 6% in the first five months of this year, compared to the same period the year before. Overall sales for trade fiction and non-fiction, children, higher education, professional and university presses were down 5.8% from... Continue reading at The Bookseller
[ The Bookseller | 2015-09-02 00:00:00 UTC ]
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The self-published picture book 'The Rabbit Who Wants to Fall Asleep,' which shot to the top of Amazon's U.K. print list a few weeks ago, has officially been acquired in by Penguin Random House. The publisher took world English rights to the book in a joint deal between Random House U.S. and... Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-02 00:00:00 UTC ]
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Aims to increase proportion of women and underrepresented minorities, with no African American or Hispanic staff currently in US leadership positionsTwitter has outlined its ambitions to boost the proportion of women and underrepresented minorities in its workforce, publishing targets for “a... Continue reading at The Guardian
[ The Guardian | 2015-08-31 00:00:00 UTC ]
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