Harlequin’s parent company Torstar reported second quarter results Wednesday. The book publishing unit had sales of $107 million (CA), down by $3.3 million. EBITDA was up $1.8 million in the quarter at $18.99 million, which Torstar attributed to “positive year over year adjustments to returns provisions and lower promotional spending.” As in the past, the sales drop was attributed to declines in print revenues that couldn’t be offset by digital gains, though “the shift in retail sales from print to digital moderated in the second quarter.” In addition, overseas revenues dropped because of the “economic softness in Europe,” although “lower […]
