Sales at Simon & Schuster fell noticeably in the third quarter (ending September 30), down $25 million to $199 million. Profits remained strong, however, equal to the record earnings this time a year ago, with OIBDA of $43 million, “as lower inventory and selling costs offset the revenue decline.” (Sales were lower for this quarter than they have been at any point over the past 7 years; the next lowest mark was recorded in 2012, when third quarter sales were $210 million.) CEO Carolyn Reidy attributed the sales shortfall to the timing of their big releases, with Stephen King’s new novel releasing in […]
