Pearson announced results for the first half of the year and expanded on the details of their latest in a cycle of continuous restructuring, first announced in May. Another 3,000 employees will be eliminated over the next three years, “with a particular focus on managerial positions.” The company confirmed that it will spend £300 million of the proceeds from the sale of a portion of their stake in the Penguin Random House joint venture on a share buyback, and they set a new interim dividend of 5 pence per share (compared to 18 pence per share in 2016). Sales for the […]
Archives for August 2017
Trade Gains As Houghton Is Flat Overall
Houghton Mifflin Harcourt reported flat second quarter sales at $393 billion, as billings declined by $17 million. In what is seasonally a weak quarter, they had a higher net loss of ($46.9 million), compared to ($28.4 million) a year ago, and a bigger operating loss, $10 million higher at $31 million. The restructuring plan that saw significant layoffs in May cost $33 million during the quarter — including $14 million for severance and termination benefits. Trade sales were $42.4 million for the quarter, up from $38.7 million a year ago, rising 9.8 percent, andattributed to “Papi and the latest edition […]
People, Etc.
At Abrams Children’s, Tessa Meischeid has joined in the new role of associate publicist. Previously, she was assistant editor at HarperCollins Children’s. Lora Grisafi has joined as trade marketing designer. Previously, she designed marketing materials for Random House Children’s. Mark Lee has joined the National Book Foundation as communications and marketing manager. He was associate publicist at Doubleday. Crown Publishing Group announced a number of promotions in the art department. Elizabeth Rendfleisch has been promoted to vice president and director of interior design; Jessie Bright has been promoted to art director; Michael Morris has been promoted to senior designer; and Alane Gianetti and […]
Tallent Tops September Indie Next List
The ABA named Gabriel Tallent’s debut novel My Absolute Darling the No. 1 Indie Next Pick for September. The rest of the list, which includes four titles excerpted in our Buzz Books Fall/Winter 2017 (noted with asterisks), features: Little Fires Everywhere, by Celeste Ng* The Child Finder, by Rene Denfeld* Young Jane Young, by Gabrielle Zevin Sing, Unburied, Sing, by Jesmyn Ward The Burning Girl, by Claire Messud The Resurrection of Joan Ashby, by Cherise Wolas* The Heart’s Invisible Furies, by John Boyne Fever, by Deon Meyer* Miss Kopp’s Midnight Confessions, by Amy Stewart The World of Tomorrow, by Brendan Mathews […]
People, Etc.
Brianna Linden has been promoted to associate publicist for Viking and Penguin publicity. Chris Myers, former senior vice president and managing director at Peter Lang Publishing, will launch a new academic publishing house Myers Education Press. The company will specialize in books, e-books and digital content centered on education. John von Knorring, president and publisher of higher education publisher Stylus Publishing, will be his partner in the venture. Renowned editor Judith Jones, 93, died today at her summer home in Walden, VT, from complications of Alzheimer’s, her step-daughter told the Washington Post, which has a lengthy profile. Best-known for publishing cookbook authors […]
“Services” Continue Growth In Modest Quarter for Apple
Apple reported fiscal 2017 third quarter earnings, with sales $45.4 billion (up $3 billion) and net income of $8.7 billion (up from $7.8 billion a year ago). Traditionally one of Apple’s lighter quarters, those results were still ahead of analysts’ expectations — and the company’s own guidance for the next quarter was also stronger than expected, boosting the stock price. It used to be fun to watch Apple’s “services” revenue — which includes their media sales — grow and ultimately overtake Amazon’s “media sales” business, but then Amazon stopped breaking out media sales in 2017 and moved to charting subscription […]