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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How the self-published Swedish picture book become an overnight international sensation. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-28 00:00:00 UTC ]
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What was your favorite childhood fall-asleep book, and why/ how did it help you sleep (or, parents, what works on your kids now)? Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-24 00:00:00 UTC ]
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Carl-Johan Forssén Ehrlin’s self-published book claims to cure young insomniacs, but should bedtime stories be about tricking children to conk out? Related: Can an app really persuade children to go to sleep? I am the parent of a child whose nightly requests for more stories, more songs, a... Continue reading at The Guardian
[ The Guardian | 2015-08-17 00:00:00 UTC ]
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An insomniac rabbit is the hero of a book which has become a surprise best seller. Continue reading at Stuff
[ Stuff | 2015-08-17 00:00:00 UTC ]
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While half of the publishing industry has taken advantage of the brief August lull to spend a fortnight in Devon reading Elena Ferrante, the reality—as many a hard-pressed publicist can testify—is that the autumn rush is almost upon us. In under a fortnight, Jamie Oliver’s Everyday Super Food... Continue reading at The Bookseller
[ The Bookseller | 2015-08-15 00:00:00 UTC ]
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We’re in a very personal business,” said Jill Hendrix, owner of Fiction Addiction in Greenville, S.C., who has developed close ties with many of her customers since opening the store in 2001. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-14 00:00:00 UTC ]
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Two new chocolate cookbooks from bean-to-bar chocolatiers are hitting shelves soon. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-14 00:00:00 UTC ]
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Despite a 45% increase in revenue from its Domain real estate advertising, publisher of the Sydney Morning Herald was unable to offset print decline• News Corp sees strong growth in digital real estate services and book publishingFairfax Media has reported a 62.9% drop in full-year profit to... Continue reading at The Guardian
[ The Guardian | 2015-08-13 00:00:00 UTC ]
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The Publishers Weekly Stock Index jumped 14.2% in July with the gain due entirely to the phenomenal performance of Amazon’s shares which added more than $100 in the month. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-07 00:00:00 UTC ]
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Amazon UK has extended Prime Now, which allows customers to receive goods within one hour of purchasing, to Birmingham and the surrounding areas. From today (6th August), shoppers in Birmingham, and towns such as Lichfield, Cannock and Tamworth, can benefit from the super-fast delivery times if... Continue reading at The Bookseller
[ The Bookseller | 2015-08-07 00:00:00 UTC ]
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Sales in the publisher's trade segment inched up 0.5% in the second quarter, to $37.4 million. But adjusted EBITDA fell to $412,000, from $1.9 million in the second quarter of 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-08-06 00:00:00 UTC ]
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Two library associations – the Society of Chief Librarians (SCL) and the Association of Senior Children's and Education Librarians (ASCEL) - have taken issue with reports of the decline in numbers of children visiting libraries, following publication of a Department for Culture, Media and Sport... Continue reading at The Bookseller
[ The Bookseller | 2015-07-30 00:00:00 UTC ]
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#senior children
Days after the film adaptation of 'Paper Towns' hit theaters, John Green's 2008 novel hit #1 on Apple's iBooks bestseller list. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-07-28 00:00:00 UTC ]
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DGMT share price drops 9% after ‘marked deterioration’ in advertising revenue for flagship print titlesShares in the Daily Mail’s parent company have slumped 9% after it reported a fall in print advertising revenues at its flagship national newspapers. Advertising revenues at the Daily Mail and... Continue reading at The Guardian
[ The Guardian | 2015-07-23 00:00:00 UTC ]
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A "limited number" of copies of Harper Lee's Go Set a Watchman (William Heinemann) have been found to contain a printing error, with Penguin Random House's printer Clays having to print replacement stock. Copies affected by the technical fault at Clays have two lines missing on each of six... Continue reading at The Bookseller
[ The Bookseller | 2015-07-17 00:00:00 UTC ]
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A city-wide celebration of Roald Dahl, including theatrical spectacles and art exhibitions, will take place in Cardiff next year to celebrate the author’s centenary. For the "City of the Unexpected" event, co-producers National Theatre Wales and Wales Millennium Centre will organise live events... Continue reading at The Bookseller
[ The Bookseller | 2015-07-10 00:00:00 UTC ]
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This fall, cookbook publishers are capitalizing on the new "it" cuisine’s rising popularity with titles from Peruvian chefs. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-07-07 00:00:00 UTC ]
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The Publishers Weekly Stock index fell 1.1% in June, a slightly better performance than the Dow Jones Industrial Average, which dropped 2.2% in the month. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-07-03 00:00:00 UTC ]
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A collection of essays from Zadie Smith, a novel critiquing the concept of romantic love by Alain de Botton and Marina Lewycka’s first book in four years are among the highlights of Penguin General’s spring 2016 list. Authors and staff from Penguin General – which comprises of imprints Penguin,... Continue reading at The Bookseller
[ The Bookseller | 2015-07-03 00:00:00 UTC ]
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More than 40% of boys receiving free school meals lag behind their peers in terms of language skills by the age of five, according to a new report from the Read On. Get On. coalition. The Ready to Read report shows that 40% of "poor" boys (those who receive free school meals) are lacking... Continue reading at The Bookseller
[ The Bookseller | 2015-06-30 00:00:00 UTC ]
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