Houghton Mifflin Harcourt reported first quarter sales, with revenues of $206 million, up from $163 million a year ago, primarily on the addition of Scholastic’s EdTech business. The seasonal net loss of $165 million was $5 million (or 3 percent) higher than a year ago. In education, there was a “decline in domestic education billings due to smaller new adoption market in 2016 versus 2015.” The company said that trade sales of $31.5 million were down $2.3 million, or 7 percent, in the quarter, “due to a decrease in net sales of ebooks attributed to fewer movie tie-ins of bestselling ebook […]
Archives for May 2016
A Flat Quarter for Simon & Schuster
Simon & Schuster’s parent company CBS reported first quarter results after the close of the market on Tuesday, with the publisher reporting flat sales of $145 million, as operating income was up $1 million to $13 million, “primarily reflecting lower production and selling costs” and driven by “operating efficiencies.” While sales were even with a year ago, that was a modest bar (since they had sales of $153 million in Q1 2014; $171 million in Q1 2013; and $176 million in Q1 2012). CEO Carolyn Reidy acknowledged to us the opening quarter has been soft “for the last couple of years” while adding […]
Buzz Books for BEA
Our two new free Buzz Books: Fall/Winter samplers of exclusive pre-publication excerpts got off to a strong start yesterday, with thousands of downloads, many appreciative reviews already pouring in at NetGalley (“This is a fantastic resource for all serious readers”; “This is a gift from the book gods.”; “Reading the Buzz Books is like a gourmet tasting menu of bookish delights. Excuse the hyperbole, I’m a little giddy from reading so many teases of stories that I absolutely want to read.”); and lots of activity on social media, including boosts from some of our most-followed authors, including actor Mara Wilson […]
Briefs
Shambhala Publications will acquire Berkeley-based Rodmell Press, an independent publisher of books on yoga, Buddhism, Taoism, and aikido founded in 1988 by Linda Cogozzo and Donald Moyer, who plan to retire. As part of the acquisition, Rodmell titles will move distribution from PGW to Penguin Random House under the Shambhala logo beginning August 1. In the announcement, Shambhala president Nikko Odiseos expressed his admiration and appreciation for “the care with which each Rodmell book was chosen, and their obvious commitment to genuine, authentic teachings that help readers live better lives physically, emotionally, and spiritually.” Rodmell Press was represented by Susan […]
Bloomberg’s Influence: Amazon Expands Same-Day Service to Chicago’s South Side and the Bronx
Bloomberg’s expose on how the rollout of Amazon’s same-day delivery service was carefully avoiding predominantly black neighborhoods in many major metropolitan areas continues to wield influence. The etailer promised local politicians it will correct those gaps in Chicago and New York’s The Bronx “in coming weeks,” following a pledge to do the same in Roxbury, MA. Those promises come after Illinois Congressman Bobby Rush asked for an FTC investigation, and Bronx Borough president Ruben Diaz Jr. and NYS council Jeffrey Dinowitz complained as well. An Amazon spokesperson tells USA Today by email they are working on extending the service to other […]
More May Bookseller Picks
Some outlets start the month a little later than others, so here are more “best books of May” picks. Still more of our Spring/Summer Buzz Books titles make the new lists, with Louise Erdrich a consensus read across the board, joined by Emma Straub, Betsy Lerner, Lindy West (and if you include Apple’s genre lists, Noah Hawley). iBooks Fiction LaRose, Louise Erdrich Modern Lovers, Emma Straub Everybody’s Fool, Richard Russo Imagine Me Gone, Adam Haslett This Too Shall Pass, Milena Busquets Nonfiction The Bridge Ladies, Betsy Lerner Shrill, Lindy West The Gene, Siddartha Mukherjee Joe Gould’s Teeth, Jill Lepore Tribe, […]