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 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 ]
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Girls are quick to romanticise anti-heroes, says Harry Potter author, as she shares her vision for the future of the boy wizard’s school enemyJK Rowling says that “girls are very apt to romanticise” the antihero, and reveals that she had been forced to pour “cold common sense” on the startling... Continue reading at The Guardian
[ The Guardian | 2014-12-22 00:00:00 UTC ]
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Constable is to publish the first biography of Thin Lizzy’s lead singer Phil Lynott written with the approval of his estate. Publishing director Andreas Campomar bought world rights to Cowboy Song from Matthew Hamilton at Aitken Alexander Associates. Lynott was the lead singer and principal... Continue reading at The Bookseller
[ The Bookseller | 2014-12-18 00:00:00 UTC ]
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From till point ticklers to luxury titles that will blow the budget and books that will make the perfect gifts, The Bookseller’s Features and Insight team has curated a list of must-stock titles for this Christmas. Ranging from celebrity biographies and high-end picture books, to books in... Continue reading at The Bookseller
[ The Bookseller | 2014-12-13 00:00:00 UTC ]
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With the stock prices up at nine companies in the month, the Publishers Weekly Stock Index rose 6.5% in November. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-12-05 00:00:00 UTC ]
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E-book retailer Kobo is teaming with screen manufacturer E Ink Holdings to offer wider access to the Kobo ebook catalog. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-12-03 00:00:00 UTC ]
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Orion Children’s Books is increasing its range of early reader titles, with four non-fiction books planned for 2015. The books are all on science or nature and the first, The Deep Dark Sea, is by Tony De Saulles and will be released on the 19th March. The other three books coming out next year... Continue reading at The Bookseller
[ The Bookseller | 2014-11-26 00:00:00 UTC ]
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E-book pioneer Bob Stein is to join the ‘big ideas’ panel at FutureBook 2014. The last minute addition of Stein means bookings for The Bookseller’s digital publishing conference will now remain open for another five hours. Continue reading at The Bookseller
[ The Bookseller | 2014-11-13 00:00:00 UTC ]
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Although stock prices rose at eight of the 13 companies listed on the Publishers Weekly Stock Index, the PWSI dropped 1.5% in October, while the Dow Jones Industrial Average rose 2%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-11-07 00:00:00 UTC ]
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Twenty years ago last month, a team of well-meaning designers, coders and magazine publishers inadvertently unleashed on an unsuspecting world one of the most misguided and destructive technologies of the Internet age: the web banner ad. If th ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2014-11-06 00:00:00 UTC ]
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HarperCollins is donating more than 500 copies of Nathan Filer's Costa Book of the Year-winning novel The Shock of the Fall to NHS library services across the south west. The publisher is donating copies to the NHS library network through the Avon and Wiltshire Mental Health Partnership NHS... Continue reading at The Bookseller
[ The Bookseller | 2014-11-04 00:00:00 UTC ]
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Bloomsbury has seen a fall in revenue and profits for the first half of 2014, with the adult publishing division down following a strong performance in the previous year. For the six months ending 31st August 2014, the publisher had turnover of £46.6m, down 5% from £49.2m in the same period in... Continue reading at The Bookseller
[ The Bookseller | 2014-10-24 00:00:00 UTC ]
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Samsung and Barnes & Noble unveiled a new 10.1-inch Samsung Galaxy Tab 4 NOOK yesterday. Early word from the tech press on the $300 tablet was mixed. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-23 00:00:00 UTC ]
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In October, three new cookbooks based on hit TV shows will help you take your fandom to the next level—into the kitchen. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-20 00:00:00 UTC ]
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Average print and digital circulation of magazine publisher behind Cosmopolitan, Mens Health and Esquire down by 8.4% Continue reading... Continue reading at The Guardian
[ The Guardian | 2014-10-09 00:00:00 UTC ]
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The shape of publishing continues to shift, but academic presses still face the perennial questions: audience, sales, course adoptions, a shrinking library market. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-03 00:00:00 UTC ]
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There’s a scene early in the recent film Noah in which Noah plants a seed from the garden of Eden. It sprouts and spreads into a lush and glorious forest as quickly as critics scrambled to find biblical precedent. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-03 00:00:00 UTC ]
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This year's trade show was a celebration of books, community, and camaraderie for 310 Midwest Independent Booksellers Association booksellers and 98 Great Lakes Independent Booksellers Association members. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-03 00:00:00 UTC ]
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One rarely uses the term booming in publishing these days, but it’s fair to say that academic publishing about Islam is doing just that. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-03 00:00:00 UTC ]
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A generation ago, church history was the trending topic in American religious history books, with Protestant titles dominating. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-03 00:00:00 UTC ]
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