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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The Southern Independent Booksellers Alliance has announced the dates for its fall regional trade show through 2017. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-04-22 00:00:00 UTC ]
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CIROBE will celebrate its 25th anniversary next year at a new larger space in Chicago's top tourist destination. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-04-03 00:00:00 UTC ]
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#25th anniversary
Archie Comics, home of the redhead teenager from Riverdale as well as comics based on videogame favorites Sonic the Hedgehog and Mega Man, has released its graphic novel lineup for Fall 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-04-03 00:00:00 UTC ]
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We asked attendees at this week’s Digiday Publishing Summit to discuss the challenge of mobile campaigns. Here’s what they thought about closing the mobile revenue gap, multi-screen campaigns, and more. Sponsored by CheckM8.The post Infographic: Publishers on closing the mobile gap appeared... Continue reading at Digiday
[ Digiday | 2014-03-20 00:00:00 UTC ]
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Scholastic's revenues fell 1.3% in the third quarter for fiscal year 2014 to $373.5m but... Continue reading at The Bookseller
[ The Bookseller | 2014-03-20 00:00:00 UTC ]
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The Netherlands and Flanders will join together in a collective presentation as Guests of Honor at the Frankfurt Book Fair in 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-03-17 00:00:00 UTC ]
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The book is said to focus on the relationship between Richards and his grandfather, who got him interested in music. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-03-13 00:00:00 UTC ]
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#keith richards
Both the Publishers Weekly Stock Index and the Dow Jones Industrial Average rebounded in February after being down in January. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-03-07 00:00:00 UTC ]
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#industry stocks
Leicester Mercury down 14.4% on the year while rival titles belonging to Johnston Press and Trinity Mirror also sufferSeveral Local World flagship evening regional newspapers suffered double digit year-on-year circulation falls, according to the latest ABC figures.Many of its regional rivals... Continue reading at The Guardian
[ The Guardian | 2014-02-27 00:00:00 UTC ]
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Amazon customers in the UK, US and Germany can now use its Amazon Coins currency on Android... Continue reading at The Bookseller
[ The Bookseller | 2014-02-19 00:00:00 UTC ]
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Music weekly's circulation drops below 'death knell' 20,000 mark but publisher says reach and revenues are growingIn its heyday it sold more than 300,000 copies but the circulation of the New Musical Express, the last of the old-school music weeklies, has dipped below 20,000 in the latest... Continue reading at The Guardian
[ The Guardian | 2014-02-14 00:00:00 UTC ]
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IPC Media music magazine reports drop in circulation of 21.1% year on year, with rival Q down 14.2%A relaunch of the New Musical Express failed to stop its sales falling below the 20,000 mark for the first time, down more than a fifth year on year.The IPC Media title, which celebrated its 60th... Continue reading at The Guardian
[ The Guardian | 2014-02-13 00:00:00 UTC ]
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#total film
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The Independent is a calling card across the world, the paper's former owner, Tony O'Reilly, once told me. It was one of the major reasons he fought so hard to acquire the Indy and why he was prepared to lose so much money afterwards as its publisher.He understood that it was the title that gave... Continue reading at The Guardian
[ The Guardian | 2014-01-17 00:00:00 UTC ]
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#wrote yesterday
An authorised biography of novelist Elizabeth Jane Howard by Artemis Cooper will be released in... Continue reading at The Bookseller
[ The Bookseller | 2014-01-07 00:00:00 UTC ]
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Sales of printed books fell by £98m last year - down 6.5% on 2012, figures show. Continue reading at BBC News
[ BBC News | 2014-01-06 00:00:00 UTC ]
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Bricks-and-mortar bookstores are missing a huge opportunity by failing to take advantage of the self-publishing revolution, argues Tanja Tuma. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-01-06 00:00:00 UTC ]
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The value of the printed book market fell by £98m in 2013, Nielsen BookScan data reveals.... Continue reading at The Bookseller
[ The Bookseller | 2014-01-03 00:00:00 UTC ]
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Aided by one of the biggest bull rallies in years, the core Publishers Weekly Stock Index soared 51.2% in 2013, almost double that of the gain posted by the entire Dow Jones Industrial Average. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-01-03 00:00:00 UTC ]
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After a flurry of year-end filings, Judge Denise Cote late last week rejected Apple’s bid to extend its deposition of plaintiff expert witness Roger Noll, whose report had pegged Apple’s total ebook damages at just over $307 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-12-30 00:00:00 UTC ]
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Facebook is being more blunt about the fact that marketers are going to have to pay for reach.If they haven't already, many marketers will soon see the organic reach of their posts on the social network drop off, and this time Facebook is acknowledging it. In a sales deck obtained by Ad Age that... Continue reading at Advertising Age
[ Advertising Age | 2013-12-05 00:00:00 UTC ]
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#falling short
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