Scholastic reported fiscal third quarter sales through February 28 after the close of the market on Thursday. Sales of $360.1 million were up $15.4 million compared to a year ago, though $9.4 million of that was due to the new ASC 606 revenue recognition guidelines. The operating loss of $21.4 million was an improvement of $2.3 million from last year, with a better net loss, too, of $12.6 million. But costs are running higher than expected, and the company said it expects full-year earnings per share, excluding one-time items, “will be at the low end of its previous guidance range […]
Archives for March 2019
People, Etc.
Carol Carson, longtime vice president and art director at Knopf will retire at the end of March. Carson joined Knopf in 1987, the same year that Knopf chairman and editor-in-chief Sonny Mehta did. He writes, “Carol has been a design visionary for our flagship imprint, and an inspiring leader to her team. But first and foremost, Carol is a remarkable designer. She has always understood how to best represent the work of an author to a reading public.” She will be succeeded by John Gall, returning as vice president and creative director. He has creative director at Abrams since 2012, […]
Whiting Award Winners
The 2019 Whiting Award winners were announced in a ceremony on Wednesday evening. The ten winners of the $50,000 prize are: Fiction Nafissa Thompson-Spires (Heads of the Colored People, 37 Ink) Merritt Tierce (Love Me Back, Anchor) Hernan Diaz (In the Distance, Coffee House) Nonfiction Nadia Owusu (Aftershocks, forthcoming from Simon & Schuster) Terese Marie Mailhot (Heart Berries, Counterpoint) Poetry Kayleb Rae Candrilli (What Runs Over, YesYes Books) Tyree Daye (River Hymns, American Poetry Review) Vanessa Angélica Villarreal (Beast Meridian, Noemi Press) Drama Michael R. Jackson (A Strange Loop) Lauren Yee (Cambodian Rock Band)
LifeWay to Close All 170 Physical Stores
LifeWay Christian Resources announced that will close all of its 170 physical stores by the end of this year. Acting CEO Brad Waggoner said in a statement, “While we had hoped to keep some stores open, current market projections show this is no longer a viable option. The decision to close our local stores is a difficult one.” (In January, the company had indicated they would close a portion of their store base.) The company says, “The timing of store closings will vary depending on local circumstances.” They will continue to sell online, pitched as a “strategic shift of resources […]
People, Awards, Etc.
At St. Martin’s, Joe Goldschein has been promoted to senior director, marketing & sales operations; Kim Ludlam to director, creative services; Martin Quinn to associate director, marketing; Marissa Sangiacomo to senior marketing manager; Erik Platt to senior manager, digital advertising operations; Danielle Prielipp to senior marketing manager; Joe Brosnan to senior marketing manager; DJ DeSmyter to marketing manager; and Dylan Helstien to assistant manager, advertising operations. Paddy Laidley, executive vice president and head of Raincoast Books, will retire on May 31. Current vice president of sales Peter MacDougall will succeed her. Laidley joined Raincoast in 1994 as sales manager and […]
People, Etc.: Teicher to Retire From ABA
American Booksellers Association ceo since 2009 Oren Teicher announced Monday that he will retire at the end of the year. The ABA board has retained the search firm of Isaacson, Miller and has appointed a search committee, intending to complete the search process by September 30. Teicher said, “To say the least, this was not a decision I reached lightly, as I have cherished every single day over the last 30 years that I have worked at ABA. But the time has come, and I firmly believe it’s the right decision for me, and for ABA. There are also a number […]