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
Relationships have their ups and downs, but for publishers and librarians, the passion is back. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-07-06 00:00:00 UTC ]
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A list titled LibraryReads will be created monthly by libraries all over the country, compiling 10 picks that staff members would choose for the reading public. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-07-03 00:00:00 UTC ]
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#staff members
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On the first day of trading as separate companies, Rupert Murdoch's television and movie empire, 21st Century Fox, gained nearly 2% while the publishing company ended the day down 5%. Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-07-02 00:00:00 UTC ]
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#separate companies
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Book sales at W H Smith dropped 6% like-for-like in the six months to 28th February, according to... Continue reading at The Bookseller
[ The Bookseller | 2013-04-11 00:00:00 UTC ]
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#book sales
#28th february
The Penguin/Random House merger has been cleared by the Commerce Commission in New Zealand, with... Continue reading at The Bookseller
[ The Bookseller | 2013-03-19 00:00:00 UTC ]
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Printed book sales in the UK slipped back last week, despite a number of new novels by some of... Continue reading at The Bookseller
[ The Bookseller | 2013-03-19 00:00:00 UTC ]
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#bumper week
Printed book sales in the UK slipped back last week, despite a number of new novels by some of... Continue reading at The Bookseller
[ The Bookseller | 2013-03-19 00:00:00 UTC ]
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#bumper week
Quarto has revealed plans to cut debt by divesting of businesses "detracting from... Continue reading at The Bookseller
[ The Bookseller | 2013-03-12 00:00:00 UTC ]
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#revealed plans
The Penguin Group saw a 1% rise in sales to £1.05bn in 2012 (£1.04bn in 2011).... Continue reading at The Bookseller
[ The Bookseller | 2013-02-25 00:00:00 UTC ]
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The total number of independent bookshops on the high street has declined for a sixth consecutive... Continue reading at The Bookseller
[ The Bookseller | 2013-02-22 00:00:00 UTC ]
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Jeff Bewkes and company used to insist they wanted to hang on to their magazine business. They stopped saying that in September. Continue reading at AllThingsD
[ AllThingsD | 2013-02-14 00:00:00 UTC ]
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Hardbound books, apparently, are soooo 20th century -- at least for the upcoming BiblioTech library in San Antonio, Texas' south side. When the shiny, new public library opens its doors to bookworms this fall, visitors will notice something important missing: actual books. Instead, the facility... Continue reading at Engadget
[ Engadget | 2013-01-14 00:00:00 UTC ]
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Led by a 44.9% increase in the stock price of Amazon, the Publishers Weekly Stock Index jumped 23.5% in 2012, easily beating the 7.3% gain posted by the Dow Jones Industrial Average in the year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-01-04 00:00:00 UTC ]
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Bloomsbury has been forced to pulp 6,000 copies of a novel after wrongly labelling it as the... Continue reading at The Bookseller
[ The Bookseller | 2012-11-28 00:00:00 UTC ]
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Penguin will refresh its ebook lending system later today, according to a report from the New York Times. The publisher will start lending out its titles in Los Angeles and Cleveland, mimicking the program that trialled (despite some DRM issues) in New York. Public library users can even expect... Continue reading at Engadget
[ Engadget | 2012-11-19 00:00:00 UTC ]
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#digital copy
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First Barnes & Noble, then Indigo Books and Music and Books-A-Million – now some indie bookstores are choosing not to add Amazon-published titles to their bookshelves. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-11-06 00:00:00 UTC ]
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At the Frankfurt Book Fair 2012, the Italian Publishers Association presented statistics about Italy's book market. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2012-10-27 00:00:00 UTC ]
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#book market
Ad revenue at The New York Times Co. declined 8.9% in the third quarter from the quarter a year earlier as print ad revenue dropped 10.9% and digital ad revenue slipped 2.2%, the company said today. Circulation revenue, however, increased 7.4% on the strength of growing digital subscriptions and... Continue reading at Crains New York
[ Crains New York | 2012-10-25 00:00:00 UTC ]
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#digital subscribers
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Fifty Shades of Grey has sold more than 28 million physical copies around the world, though... Continue reading at The Bookseller
[ The Bookseller | 2012-10-12 00:00:00 UTC ]
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#fifty shades
Amazon's Kindle Owners' Lending Library has grown considerably since launching in the US, and it looks like the company's finally decided it was time to let some other countries in on the service as well. It announced today that Amazon Prime members in the UK, Germany and France would all have... Continue reading at Engadget
[ Engadget | 2012-10-11 00:00:00 UTC ]
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