CBS reported sales at Simon & Schuster for the second quarter of $186 million, down 7 percent from a year ago. It’s the third straight quarterly decline for the publishing unit and once again the statement says that “bestselling titles…did not match contributions from prior year titles.” OIBDA and operating income decreased 15 percent to $17 million and 19 percent to $14.6 million, respectively, with “lower revenues partially offset by lower royalty expenses.” In additional remarks the company indicated they “are also feeling, as we did the last quarter, the effects of higher freight costs,” and are seeing higher paper […]
