Archives for November 2004

Sales Down at Borders, Though BAM Move Past Stormy Days Rather as expected, Borders turned in a bad third quarter. Comparable superstore sales were down 1.6 percent from a year ago, registering $564 million. Same-store Walden sales fell 4.1 percent, at $151 million overall, and the international segment continues to post rapid growth, now up to $119 million in sales for the quarter. Overall, the company had a net loss of $1.5 million for the quarter, versus a profit of $0.5 million a year ago. CEO Greg Josefowicz blames the poor results on “sluggish store traffic and a slowdown in […]

Random Gets A New Client Random House Distribution Services will take over back-office functions for Candlewick Press starting April 1, 2005, moving over from Penguin Group. Candlewick has been with Penguin since their start in 1992. Candlewick will continue to be responsible for sales, and they are staying with Penguin Canada as their Canadian distributor. BN.com Ups Ante on Free Shipping With sales sliding at BN.com, the company has taken a page from their competitor’s playbook with today’s announcement of “fast & free delivery.” The program promises receipt of orders within three business days after shipping, with no shipping charge […]

Barnes & Noble’s Q3 Report Sends Bad Tidings to Publishers Same-store sales inched up 0.9 percent in the third quarter at Barnes & Noble’s superstores, for a total of $895 million, as B. Dalton continues to fade away, down to $35.9 million for the quarter (with comparable store sales sliding 3.3 percent). And at BN.com, pro-forma sales dropped 8 percent, to $91.8 million. The headline on most third-party accounts, however, is that profits dropped to $7.6 million, down from $10.2 million a year ago. At the BN superstores alone, operating profit fell to $12 million, from $15 million a year […]

Penguin UK Postpones Date for Full Warehouse Operations; “Reps are Acknowledging that Christmas will be Terrible” Publishing News is starting to add some teeth to their coverage of the ongoing Penguin UK warehouse story. One “senior figure” says “Reps are acknowledging that Christmas will be terrible, but they are fearful of admitting it.” Another remarks: “They’ll have the new Jamie Oliver on the van, but not core fiction.” Penguin itself is now officially admitting that the new fully automated warehouse will not be, um, fully automated, until next March “at the earliest” (i.e. later than that). Out of one side […]

Latest Earnings: Houghton Houghton Mifflin’s trade and reference division reported net sales of $41.1 million for their third quarter, up 8.2 percent from last year. “The increase was due primarily to the higher sales of adult, children’s and cookbook titles, offset by the decline in sales of Tolkien titles.” Educational sales at the company were up slightly, though operating income declined for the quarter. Following Pearson’s news from yesterday, some analysts are grumpy that the company did not provide a specific range of forecast earnings. Numis Securities told The Scotsman they are reducing their own forecast by $9.2 million to […]

The Other Shoe: Harper to Create True Collins Division A number of our questions about what yesterday’s newly announced HarperMorrow division meant for the rest of the US Harper imprints got answered quickly with today’s announcement: The company will launch a true Collins division for the first time in the U.S. Former PW publisher (and before that president of Grolier) Joe Tessitore has been named president of the new division, reporting to Brian Murray. Collins will now comprise what was the HarperInformation group, including HarperResource, HarperBusiness, and HarperSanFrancisco. It also absorbs Harper Design, and will coordinate more closely with the […]