Gap Inc.’s comparable sales for the first quarter of fiscal year 2017 were up 2 percent versus a 5 percent decrease last year. Comparable sales by global brand for the first quarter were as follows: • Old Navy Global: positive 8 percent versus negative 6 percent last year • Gap Global: negative 4 percent versus negative 3 percent last year • Banana Republic Global: negative 4 percent versus negative 11 percent last year Net sales for the first quarter of fiscal year 2017 were $3.4 billion, about flat to the first quarter of fiscal year 2016. The translation of foreign currencies into U.S. dollars negatively impacted the company’s net sales for the first quarter of fiscal year 2017 by about $11 million. click Read More below for additional detail
Meredith Corporation (NYSE: MDP; Meredith.com)—the leading media and marketing company, reaching nearly 115 million American women every month and nearly 90 percent of U.S. millennial women—announced today that it will partner with New York Times best-selling author, restaurateur, chef, television host and producer Ayesha Curry on a new lifestyle magazine. Known for her growing food empire, Curry will infuse her unique perspective on food, family and home into every issue of this new extension of her lifestyle brand.
The premier issue will debut on newsstands nationwide in May 2020 with a cover price of $9.99 and an initial newsstand print run of 400,000.
“I’m overjoyed to have the opportunity to share my lifestyle philosophy about the subjects I deeply care about—family, friendship, food, community and home—with a new audience and in a new format,” said Curry. “I, like so many of us, grew up flipping through the pages of the Meredith Corporation’s iconic magazines. To now have a magazine of my own feels like a dream come true. As a woman of color, it’s important to me that media reflects real, relatable women, and I’m excited to create an outlet for young men and women that celebrates diversity and inclusivity.”
The magazine will feature bold photography and a heavy paper stock, as well as a limited amount of advertising opportunities for premium clients to reach a high-quality audience.
“Ayesha’s fresh and influential voice has an impressive connection to 9 million passionate fans and followers,” said Doug Olson, President of Meredith Magazines. “We’re excited to work with her to expand her voice to magazine media and inform her already strong base on a wide range of lifestyle issues, including food, wellness, family and community.”
Meredith and Curry plan to announce the new magazine’s title in the next few months.