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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Barnes & Noble has turned a profit in its second quarter of trading, but sales in its Nook... Continue reading at The Bookseller
[ The Bookseller | 2013-11-26 00:00:00 UTC ]
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Small Demons, the L.A.-based book-focused venture that indexes the places, music, food and things mentioned in books, has extended its deadline for finding a buyer or new investor for at least another month. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-11-26 00:00:00 UTC ]
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U.S. District court judge Laura Taylor Swaim extended the temporary restraining order issued against Third World Press, indefinitely barring sales of its much anticipated release of the Diary of Malcolm X. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-11-25 00:00:00 UTC ]
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News Corp., the publisher of newspapers such as the Wall Street Journal and New York Post, reported a 2.8% decline in first-quarter revenue, hurt by shrinking demand for print advertising.Revenue fell to $2.07 billion in the period, which ended on Sept. 30, down from $2.13 billion a year... Continue reading at Advertising Age
[ Advertising Age | 2013-11-12 00:00:00 UTC ]
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News Corp., the publisher of newspapers such as the Wall Street Journal and New York Post, reported a 2.8% decline in first-quarter revenue, hurt by shrinking demand for print advertising.Sales fell to $2.07 billion in the period, which ended on Sept. 30, down from $2.13 billion a year earlier,... Continue reading at Crains New York
[ Crains New York | 2013-11-12 00:00:00 UTC ]
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Independent booksellers on both sides of the Atlantic have reacted with suspicion towards news of... Continue reading at The Bookseller
[ The Bookseller | 2013-11-07 00:00:00 UTC ]
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We live in the age of new media and the kingdom of pop culture, and a new crop of books looks at how those spheres intersect with religion. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-10-05 00:00:00 UTC ]
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As the Buddhist community in America continues to grow, and readers who are not necessarily Buddhist are drawn to Buddhist ideas and practices, publishers have found success promoting translated classic titles along with general, concise introductions that can both appeal to a general audience... Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-10-05 00:00:00 UTC ]
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In our increasingly global society, books that compare and illuminate the worlds’ faiths can prove useful tools in fostering tolerance and cooperation. Today, with events in the Middle East still at center stage, understanding Islam in the context of other faiths dominates the field. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-10-05 00:00:00 UTC ]
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Not unlike the adult side of the business, children’s publishing in Canada looks to be headed for a pretty good 2013 overall, despite limited school and library budgets and reduced inventory and heavy return rates at Indigo Books and Music stores. Rick Wilks, director of Annick Press, points to... Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-09-20 00:00:00 UTC ]
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Not unlike the adult side of the business, children's publishing in Canada looks to be headed for a pretty good 2013 overall. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-09-20 00:00:00 UTC ]
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Fall is a terrific time to be a reader. Publishers shake off their summer doldrums and get down to business again. And writers? Well, writers settle in also and put out big books.Fall is a terrific time to be a reader. Publishers shake off their summer doldrums and get down to business again.... Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-09-12 00:00:00 UTC ]
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Tech firm Giphy this morning tweeted that it had launched a Facebook GIFs product, and the digerati immediately buzzed with interest. Within a couple of hours, The Gap posted one of the first branded GIFs on the hugely popular social media platform and a handful of other brands are readying... Continue reading at AdWeek
[ AdWeek | 2013-08-29 00:00:00 UTC ]
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If there’s a chill in the air and the leaves are starting to change, it must be time for the fall regional trade shows. Although the shows have shrunk in recent years, Wanda Jewell, executive director of the Southern Independent Booksellers Alliance, promises “a show people can’t miss,” with 150... Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-08-19 00:00:00 UTC ]
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The women's glossy magazine sector reported continued declines in circulation in the first six months of 2013, with Hearst Magazines UK's Company magazine plummeting 36.7 per cent. Continue reading at Media Week
[ Media Week | 2013-08-15 00:00:00 UTC ]
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Until Overstock began its price war with Amazon in late July, the companay and its CEO Patrick M. Byrne had kept a relatively low profile in the book business. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-08-02 00:00:00 UTC ]
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Psychiatrist Christine Montross' encounters with patients in crisis thoughtfully weaves history, medicine and memoir.Lauren swallows scissors, light bulbs, batteries, bedsprings, knives. Eddie pinches pennies for plastic surgeries he can't afford and rubs his face raw with sandpaper trying to... Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-07-26 00:00:00 UTC ]
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Print ad pages are down for the eighth-consecutive quarter, but the pace of those losses is slowing down. Continue reading at Folio Magazine
[ Folio Magazine | 2013-07-11 00:00:00 UTC ]
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The 2013 Book Industry Environmental Council (BIEC) has extended the deadline for industry members to fill out its latest survey that tracks the environmental progress of the book industry. The new deadline is July 12th. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-07-08 00:00:00 UTC ]
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The Publishers Weekly Stock Index rose 12.8% in the first six months of 2013, just slightly below the 13.8% increase posted by the Dow Jones Industrial Average in the January-to-June period. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-07-06 00:00:00 UTC ]
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