Archives for May 2005

Mag’s Research Says Borders May Tempt Buyers BusinessWeek crunches numbers on thousands of public companies to identify a list of 15 ripe for takeover bids — and Borders makes the list: “Antitrust regulations may keep a market leader from falling prey to a major competitor. But private-equity funds, flush with an estimated $200 billion bankroll, could buy such companies without riling the watchdogs. One leader on the list, bookstore chain Borders Group (BGP), gets 16% of its revenues from selling recorded music. With the music business in the dumps, Borders is in more pain than its main rival, Barnes & […]

Clinton to Reflect through New Lens It’s hard to believe that it was only a year ago that we were compelled to write nearly every day about Bill Clinton’s forthcoming MY LIFE. Though we’ve been spared the same fervor over the paperback editions of the book, which have a May 31 laydown, Knopf is already seeing anticipation in excess of original projections. The trade paperback edition of the book is getting a 300,000-copy first printing (up 50,000 copies from the original announcement) and a second printing of the mass-market edition of volume one, THE EARLY YEARS, has pushed that launch […]

Borders’ Down Quarter, As Predicted In line with warnings from a month ago, Borders reported a consolidated net loss of $5.3 million for the first quarter, compared to income of $2.3 million the same time last year. Borders superstores hit $579 million in sales (down 0.7 on a comparable-store basis); what’s now called Waldenbooks Specialty Retail (reflecting the conversions of many stores to Borders Express, plus Borders Outlet and airport stores) registered $143 million, still declining year-by-year, and down 3.1 percent on a same-store basis; and the international stores did $125 million in business. Ironically — and/or amusingly to those […]

Superstores Improve at BN Same-store sales rose 2.2 percent for the first quarter at Barnes & Noble, hitting $1.097 billion overall. Most of that ($959 billion) comes from the BN superstores, as BN.com revenue fell slightly compared to a year ago ($91.4 million) and B. Dalton continues its fade ($31.5 million). Net earnings from continuing operations came in at the high range of the company’s predictions and exceeded analysts’ expectations at $9.9 million, though consolidated earnings are lower without a contribution from the now spun-off GameStop. BN expects mid-single-digit comparable store gains next quarter, relying on the new Harry Potter, […]

Superstores Improve at BN Same-store sales rose 2.2 percent for the first quarter at Barnes & Noble, hitting $1.097 billion overall. Most of that ($959 billion) comes from the BN superstores, as BN.com revenue fell slightly compared to a year ago ($91.4 million) and B. Dalton continues its fade($31.5 million). Net earnings from continuing operations fell at the high range of the company’s predictions and exceeded analysts expectations at $9.9 million, though consolidated earnings are lower without a contribution from the now spun-off GameStop. BN expects mid-single-digit comparable store gains next quarter, relying on the new Harry Potter, and expects […]

The Personnel Section: Doubleday Reorganizes Rights; ABA Adds to Board; and Other News Citing such factors as dwindling domestic sub-rights opportunities and a more challenging environment for foreign rights (“both in acquiring rights from retentive agents and in selling them more strategically”), Doubleday Broadway deputy publisher Michael Palgon announced internally a restructuring of the rights department. Louise Quayle has been promoted to the new position of director, domestic rights, and Rebecca Gardner has been hired for the post of director, foreign rights, starting later this month. Gardner was at BBC North America, and before that worked for Maria Campbell Associates. […]