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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#—bloomberg news
With a large decline on the last day of the month, the Dow Jones Industrial Average fell 1.6% in July, and the overall market weakness contributed to a 3.6% decline for the Publishers Weekly Stock Index. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-01 00:00:00 UTC ]
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Dutch publishing and information services company Wolters Kluwer has announced revenues down 1%... Continue reading at The Bookseller
[ The Bookseller | 2014-07-30 00:00:00 UTC ]
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#dutch publishing
Oyster, the ebook subscription service with nearly half a million titles, launched in 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-25 00:00:00 UTC ]
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#subscription services
#million titles
Through books for children and adults, print and online features, a miniseries, and an exhibition, National Geographic is exploring how the world eats and what the future of our food system may look like. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-20 00:00:00 UTC ]
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#online features
DreamWorks Press, a new unit of the movie studio DreamWorks Animation that was established in February, is set to release its first list this fall. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-18 00:00:00 UTC ]
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Here’s a twist on the familiar genre of the chef cookbook: rather than recreating restaurant dishes, chefs are sharing their secrets for cooking at home. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-11 00:00:00 UTC ]
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Fall religion, in not so many words: still too many pastors; religion is still bad for you and the world (Christopher Hitchens has even come back from the dead, via previously unpublished essays, to remind us of this); Pope Francis still looks promising. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-04 00:00:00 UTC ]
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On June 19, the book was expected to ship in one to two months. A day later, it is in stock, with one to two days processing. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-20 00:00:00 UTC ]
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Pages on Livernois will open in Detroit this fall, thus doubling the number of general independent bookstores in the Motor City selling new books. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-19 00:00:00 UTC ]
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If you head over to iTunes and look for book pre-orders at $9.99 or less, you may notice something strange: they're all Hachette titles. That's no coincidence -- Amazon is delaying shipment on Hachette books right now, a negotiating tactic it calls... Continue reading at Engadget
[ Engadget | 2014-06-18 00:00:00 UTC ]
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#hachette books
Revenues at Educational Development Corp. rose 2% in the fiscal year ended February 28, 2014, hitting $26.1 million, although accounting items dropped net earnings to $357,600 from $802,900 in fiscal 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-10 00:00:00 UTC ]
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Time Inc. shares fell, marring the first day of trading after a spinoff from Time Warner Inc., on concern that the company's singular focus on magazines will hinder growth prospects as demand for... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2014-06-09 00:00:00 UTC ]
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#time warner
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Well my IBM eBook is finally available. Right now that’s just on Amazon.com for the Kindle (just click the link to the right) but by next week it will be on every eBook platform (iPad Nook, etc.) and there will be a trade paperback as well as an audio edition. I’ll announce all of those here as... Continue reading at Betanews
[ Betanews | 2014-06-05 00:00:00 UTC ]
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#ll announce
#early january
Perusing the cookbook offerings at BEA revealed upcoming titles from big names and newcomers alike, and news that "Lucky Peach" is looking at getting into cookbooks. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-06-02 00:00:00 UTC ]
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#fall cookbooks
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Both the Publishers Weekly Stock Index and the Dow Jones Industrial Average eked out lackluster gains of 0.8% in May. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-30 00:00:00 UTC ]
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Audio publishers are putting their stamp on a bumper crop of titles this season and we’ve gathered together some of our favorite highlights from their forthcoming lists. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-30 00:00:00 UTC ]
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If you liked the old Phaidon, the formerly U.K.-based illustrated book publisher—known for lavishly produced books on contemporary art, design, food, and architecture—then you’ll love the new Phaidon. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-16 00:00:00 UTC ]
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#ll love
First quarter sales in 2014 fell 11% at Simon & Schuster, to $153 million, but operating income rose to $11 million from $10 million in the first quarter of 2013, parent company CBS reported. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-08 00:00:00 UTC ]
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The Publishers Weekly Stock Index fell 7.2% in April as share prices dropped for 11 of the 14 companies on the PWSI. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-02 00:00:00 UTC ]
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The invoiced value of UK publishers’ annual sales fell 2% in 2013 to £3.39bn, with... Continue reading at The Bookseller
[ The Bookseller | 2014-05-01 00:00:00 UTC ]
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#uk publishers