In their earnings conference call with investors, Barnes & Noble noted that “inventories declined $155 million or 11 percent compared to last year.” They say they were able to “improve inventory turns to the highest levels in our history” and indicated “our in stock percentage of being in stock on key titles and back list did not suffer at all” as a result. Other supply chain improvements “resulted in reduced purchases from book wholesalers which of course carry lower markups.” A good portion of the inventory reductions were in music, and the company indicated DVDs and music combined now comprise […]
Archives for March 2009
Ingram Cuts 64 Jobs
Ingram has cut 64 jobs, including 34 at its headquarters warehouse in La Vergne, Tennessee and 30 at its Oregon warehouse. “We’re in this very difficult economic period where retail in all sectors is down,” company spokesman Keel Hunt told the Tennessean. “Ingram is being impacted by a falloff in order from retail booksellers. Their sales are down from the year before.”Tennessean
Australia's Productivity Commission Recommends Open Market Push
A discussion draft released by the Australia Productivity Commission found that the country’s restrictions on parallel imports, which requires that a book must be published in Australia within 30 days of its appearing overseas or face the prospect of competing editions “impose costs on consumers but have some cultural benefits for the community”. The commission recommends keeping the restrictions, but only up to 12 months from the first publication of a book and from then on parallel importation should be “freely permitted.” The Commission’s Deputy Chairman, Mike Woods, said in a statement: “The changes will preserve some certainty for local […]
Hachette Cuts Co-Op Programs
Arsen Kashkashian, head buyer of the Boulder Bookstore, reports on his blog Kash’s Book Corner that “yesterday we were informed that Hachette is eliminating” three co-op programs “that will cost many independent stores $3,000 in the upcoming year”, comprising support for newsletters ($2,000), author events ($200 to $800 per year) and their Emerging Voices program ($200), in which “we bought 10 copies of books by relatively unknown authors to earn the co-op.” Kashkashian writes: “In most businesses, $3,000 might be a fairly insignificant amount. In the bookselling world where a profit of 2% is considered stellar, it is a critical […]
Author Obama's Earnings Close In On $9 Million
While reporters still guess at George Bush’s advance, the NYT totals up President Obama’s earnings to date from his books: $8,605,429, and counting, based on disclosure forms. To clarify the CQ article we cited yesterday, which contained some errors (as did reports elsewhere), President Obama agreed in early January to a license of an abridged version of DREAMS OF OUR FATHERS for young readers, for a $500,000 advance. (Presidential aides indicate he will split the proceeds with Crown). Crown will create the abridgment, which President Obama will approve. A White House spokesperson told the NYT the president has not decided […]
Distribution News: HBG Adds Oxmoor House, and other Announcements
Time Inc. Home Entertainment is taking over book production for all of Time Inc., which means the unit will integrate Oxmoor House, whose books include titles from Southern Living, Cooking Light, Sunset, Williams-Sonoma, and Weber Grills. As a result, Hachette Book Group will provide sales, marketing, and distribution for the Oxmoor House titles as of April 1 since they already work with TIHE. The nominees for the Hugo Awards and the John W. Campbell Award for Best New Writer have been named by Anticipation, the 67th World Science Fiction Convention. The winners will be announced on August 9. And the […]