Gap stock falls the most since 2016 after weakness extends to Old Navy

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 ]
News tagged with: #marketing support #bloomberg intelligence #—bloomberg news

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Elvis Costello will reportedly release a memoir this fall

Costello's book will be titled 'Unfaithful Music & Disappearing Ink' and will be published by Penguin. Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2015-03-26 00:00:00 UTC ]
More news stories like this | News stories tagged with: #elvis costello #reportedly release


A new memoir from Julie Andrews expected in fall 2017 (+video)

The new memoir by Julie Andrews will reportedly cover the time period in which she starred in such films as 'The Sound of Music,' 'Mary Poppins,' and 'Victor/Victoria.' Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2015-03-26 00:00:00 UTC ]
More news stories like this | News stories tagged with: #julie andrews #reportedly cover #time period #mary poppins


A new memoir from Julie Andrews expected in fall 2017

The new memoir by Julie Andrews will reportedly cover the time period in which she starred in such films as 'The Sound of Music,' 'Mary Poppins,' and 'Victor/Victoria.' Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2015-03-25 00:00:00 UTC ]
More news stories like this | News stories tagged with: #julie andrews #reportedly cover #time period #mary poppins


The Fall of Language in the Age of English

The fate of national languages when English has become the world’s dominant “universal” language. Continue reading at Publishers Weekly

[ Publishers Weekly | 2015-03-06 00:00:00 UTC ]
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Pearson appoints new c.f.o. as 2014 profits fall

Pearson has appointed a new chief financial officer (c.f.o.) after reporting a sales drop of 4% in 2014. The company has appointed Coram Williams to the role of c.f.o. from Penguin Random House, where he is currently holding the same title. He will start in the job on the 1st August, replacing... Continue reading at The Bookseller

[ The Bookseller | 2015-02-28 00:00:00 UTC ]
More news stories like this | News stories tagged with: #sales drop #1st august


Details on Manchester's library stock cull

Manchester City Council has given more details on how it came to dispose of around 240,000 items from its reference collection, and how material was chosen. Continue reading at The Bookseller

[ The Bookseller | 2015-02-20 00:00:00 UTC ]
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Indie Bookshop of the Year Award: deadline extended

The deadline has been extended for independent bookshops to apply for one of the industry’s most coveted prizes – Independent Bookseller of the Year at the Bookseller Industry Awards. Indies now have until 5p.m. on Monday 23rd February to submit their entries here to be considered for the... Continue reading at The Bookseller

[ The Bookseller | 2015-02-20 00:00:00 UTC ]
More news stories like this | News stories tagged with: #indie bookshop #independent bookshops #independent bookseller #added bonus


Patterson most borrowed author but loan numbers fall

James Patterson remains the most borrowed author in UK libraries for the eighth year running, according to data released today (13th February) by the Public Lending Right (PLR). Daisy Meadows holds firm in second place, while fellow children’s authors Julia Donaldson and Francesca Simon remain... Continue reading at The Bookseller

[ The Bookseller | 2015-02-14 00:00:00 UTC ]
More news stories like this | News stories tagged with: #uk libraries #public lending #fellow children #nora roberts #jacqueline wilson #roald dahl #lee child


Hachette UK results show Ferguson fall-off

Hachette UK finished 2014 with a net sales decline of 10% in the final quarter, compared to the same period in 2013 which saw Sir Alex Ferguson claim the Christmas number one, according to annual results released by French parent company Lagardere. Across 2014 as a whole, Hachette UK saw a... Continue reading at The Bookseller

[ The Bookseller | 2015-02-11 00:00:00 UTC ]
More news stories like this | News stories tagged with: #final quarter #christmas number #hachette uk #robert galbraith


News Corp newspaper revenue falls 6% as ads and subscribers go online

Newspaper revenue in the UK, the US and Australia is down despite a rise in the company’s overall revenue thanks to book publishing and real estate divisionsDeclining sales, advertising and subscriptions hurt revenues at Rupert Murdoch’s newspaper business in the final quarter of last year, News... Continue reading at The Guardian

[ The Guardian | 2015-02-06 00:00:00 UTC ]
More news stories like this | News stories tagged with: #book publishing #rupert murdoch #newspaper business #final quarter #media tycoon


Saudi prince sells most of his News Corp stock for £125m

Rupert Murdoch’s supporter, Prince Al Waleed bin Talal, reduces holding from 5% to 1%The Saudi Arabian billionaire, Prince Al Waleed bin Talal, has sold a substantial stake in Rupert Murdoch’s publishing company, News Corp, reports Bloomberg.His investment firm, Kingdom Holdings, announced to... Continue reading at The Guardian

[ The Guardian | 2015-02-04 00:00:00 UTC ]
More news stories like this | News stories tagged with: #rupert murdoch #investment firm


'More challenging' computer science GCSE from 2016

The government has published details on a “new, more challenging” GSCE in computer science, and content for more “rigorous and demanding” GCSEs in music, art and design and physical education. Content has also been published for A levels in dance, music and PE as part of a “commitment to raise... Continue reading at The Bookseller

[ The Bookseller | 2015-01-27 00:00:00 UTC ]
More news stories like this | News stories tagged with: #computer science #digital technology


Alec Baldwin will release a memoir in 2016

Baldwin recently appeared in the films 'Still Alice' and 'Blue Jasmine,' among other work. Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2015-01-27 00:00:00 UTC ]
More news stories like this | News stories tagged with: #alec baldwin


Many authors’ earnings fall below $500pa, survey finds

Research shows median income for all authors is now below $5,000, though ‘hybrid’ authors who use both traditional and self-publishing are doing bestAlmost a third of published authors make less than $500 (£350) a year from their writing, according to a new survey, with around a half of writers... Continue reading at The Guardian

[ The Guardian | 2015-01-23 00:00:00 UTC ]
More news stories like this | News stories tagged with: #survey shows #earnings fall #traditionally published #financial rewards


Egmont USA to Close After Sale Attempt Falls Through

Egmont Publishing, which put its U.S. division up for sale in October, has announced plans to close the unit. Continue reading at Publishers Weekly

[ Publishers Weekly | 2015-01-21 00:00:00 UTC ]
More news stories like this | News stories tagged with: #egmont usa #egmont publishing #announced plans


Library cuts and falls in printed book sales | Letters

Has the editor of The Bookseller compared the fall of print sales of adult fiction since 2009 by more than £150m with the massively declined budgets of public libraries over the same five-year period (The writing’s on the wall for adult fiction in print, 14 January). This is also conditioned by... Continue reading at The Guardian

[ The Guardian | 2015-01-19 00:00:00 UTC ]
More news stories like this | News stories tagged with: #actual book


Bookseller killed by falling sign at Blackpool Waterstones

Waterstones has confirmed the tragic death of one of its "much-loved" booksellers, Margaret Sheridan, after an incident at its Blackpool shop yesterday (12th January).  The company paid tribute to Sheridan, 68, from Singleton, who died at the scene after being hit by a falling Waterstones sign.... Continue reading at The Bookseller

[ The Bookseller | 2015-01-14 00:00:00 UTC ]
More news stories like this | News stories tagged with: #margaret sheridan #falling sign #local authority


Sales of printed books fall by more than £150m in five years

New figures from Nielsen BookScan show continuing decline since 2009 as more and more readers migrate to ebooksPrint sales of adult fiction have declined by over £150m since 2009, new figures show, as ebooks take an increasingly large bite out of the market.A review of 2014 from book sales... Continue reading at The Guardian

[ The Guardian | 2015-01-13 00:00:00 UTC ]
More news stories like this | News stories tagged with: #figures show #volume sales #readers migrate #adult fiction #print books #book business


Industry Stocks Struggled in 2014

Despite another year of strong gains for the stock market, the Publishers Weekly Stock Index fell 13.6% in 2014 (relative to 2013), as only five of the 13 companies on the PWSI had an increase in their share price. Continue reading at Publishers Weekly

[ Publishers Weekly | 2015-01-02 00:00:00 UTC ]
More news stories like this | News stories tagged with: #strong gains #stock market #share price


Hearst Plans New Print Magazine for Early 2016

Hearst Magazines, publisher of glossy titles like Cosmopolitan and Good Housekeeping, is planning to introduce a new print magazine in early 2016, according to David Carey, the company's president."We're in conversations now with possible joint-venture partners," said Mr. Carey in a memo to... Continue reading at Advertising Age

[ Advertising Age | 2015-01-01 00:00:00 UTC ]
More news stories like this | News stories tagged with: #good housekeeping #print launch #print titles #good life