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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Bloomsbury Children’s Books has revealed plans for a second Harry Potter Book Night in 2016. The event, which will take place on the 4th February, will again include events and activities based on the seven Harry Potter books penned by J K Rowling. More than 10,000 schools, libraries,... Continue reading at The Bookseller
[ The Bookseller | 2015-06-25 00:00:00 UTC ]
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French culture minister Fleur Pellerin has promised to extend from one year to five years the loans granted to independent booksellers with cashflow problems out of a €5m fund set up in 2014 as part of a wider plan to help shore up the sector. Speaking in Lille at the biennial conference of the... Continue reading at The Bookseller
[ The Bookseller | 2015-06-24 00:00:00 UTC ]
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New York indie comics publisher Z2 Comics is publishing Koren Shadmi's surreal web comic turned graphic novel in the fall, along with a new edition of 'Harvey Pekar's Cleveland', the posthumously released 2012 graphic memoir, and a new line of periodical comics Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-06-22 00:00:00 UTC ]
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A Kindle is no match for the Italian artist and graphic designer's mixed-media tomes.With some books, reading on a screen is virtually the same as on paper. Swipe or turn a page and you'll see words organized into sentences organized into paragraphs organized into chapters. Not so with the work... Continue reading at Fast Company
[ Fast Company | 2015-06-17 00:00:00 UTC ]
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Children’s and YA titles from Penguin Random House UK, including those by DK and Rough Guides are being made available for purchase on school ebook platform RM Books. RM Books offers a range of textbooks, topic books and fiction ebooks for schools to purchase or rent. Penguin Random House... Continue reading at The Bookseller
[ The Bookseller | 2015-06-11 00:00:00 UTC ]
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German trade association Börsenverein des Deutschen Buchhandels has released its economic data for 2014, revealing that sales of books and professional journals were down slightly by 2.2% to €9.32bn (£6.78bn). The trade association released the figures ahead of the annual industry conference in... Continue reading at The Bookseller
[ The Bookseller | 2015-06-11 00:00:00 UTC ]
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In its sophomore year, the consumer show drew 18,000 fans over its two-day run at the Javits Center. Show organizer ReedPop said the statistic represents an 80% increase over last year's attendance. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-06-01 00:00:00 UTC ]
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After the success of the first national Independent Bookstore Day last month, plans are moving forward for a second annual event to be held on Saturday April 30, 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-06-01 00:00:00 UTC ]
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Each fall, religion and spirituality publishers bring out a bounty of books for gift giving, course adoption, and general reading pleasure, as days grow short and life moves indoors. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-05-29 00:00:00 UTC ]
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Since the Anderson family made its proposal in January to buy all outstanding shares in Books-A-Million, the stock price has increased to almost 40 cents beyond the family's offer. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-05-21 00:00:00 UTC ]
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The number of children who enjoy reading for pleasure has increased but the gender gap between girls and boys has widened, according to a new report from the National Literacy Trust (NLT). For this year’s ‘Children’s and Young People’s Reading’, an annual report into children’s reading habits,... Continue reading at The Bookseller
[ The Bookseller | 2015-05-21 00:00:00 UTC ]
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Rupert Murdoch group, which publishes Sun, Times and Wall Street Journal, partly blames currency fluctuations, as book publishing division reports growthRupert Murdoch’s News Corp has seen a 52% year-on-year fall in its third-quarter profits as its newspaper advertising revenue continued to... Continue reading at The Guardian
[ The Guardian | 2015-05-07 00:00:00 UTC ]
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Richard Madeley and Judy Finnigan have signed a contract to continue their Richard & Judy Book Club, in association with W H Smith, until 2019. The celebrity couple help to select eight titles—mainly authored by new and emerging talent—three times a year: for Spring, Summer and Autumn Book... Continue reading at The Bookseller
[ The Bookseller | 2015-05-06 00:00:00 UTC ]
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The noted Italian writer Primo Levi (1919–1987), an Auschwitz survivor and the author of such acclaimed works as "If This Is a Man and The Periodic Table," is sometimes referred to as a Holocaust writer. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-04-17 00:00:00 UTC ]
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Cambridge University Press has boosted its Open Access (OA) programme to monographs, after launching a new service at the London Book Fair this week. The OA Monograph Publishing Service will enable CUP authors to print Gold OA monographs (which are freely available to the end user) for books of... Continue reading at The Bookseller
[ The Bookseller | 2015-04-17 00:00:00 UTC ]
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Former Vice President Dick Cheney and his daughter Liz Cheney plan to publish "Exceptional: Why the World Needs a Powerful America" on Sept. 1. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2015-04-09 00:00:00 UTC ]
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Former Vice President Dick Cheney and his daughter Liz Cheney plan to publish "Exceptional: Why the World Needs a Powerful America" on Sept. 1. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2015-04-08 00:00:00 UTC ]
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After the stock prices of all 13 companies on the Publishers Weekly Stock Index rose in February, there was much more of a split verdict in March, when prices rose at seven companies but fell at six. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-04-03 00:00:00 UTC ]
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The children’s sector outperformed the overall market in Italy in 2014, and has been “the saviour of the Italian book market”, according to Associazione Italiana Editori (AIE), the Italian publishers association. While the Italian book market declined in 2014 (–3.8% in value terms, to €2.56bn)... Continue reading at The Bookseller
[ The Bookseller | 2015-04-02 00:00:00 UTC ]
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The number of independent bookshops in the UK fell once again last year, with nearly 50 high street bookshops closing in 2014. The number of indie members of the Booksellers Association fell by 48 in 2014, to 939 indies. The 2013 figure (987) was a watershed moment for the industry, as it was... Continue reading at The Bookseller
[ The Bookseller | 2015-03-31 00:00:00 UTC ]
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