Scholastic reported earnings for the fiscal second quarter ended November 30, with sales of $524 million, rebounding $118 million or 29 percent from a year ago. The gain still leaves them short of pre-COVID levels, with sales of $597.2 in 2019 and $604.7 million in 2018. In-person school book fairs resumed at about 70 percent of pre-pandemic levels and the company said those earnings exceeded expectations, with higher sales of educational materials as well, as students returned to school. The operating profit excluding one-time items was $84 million, up from $54 million last year (2019: $105 million; 2018: $98 million), […]
Archives for December 2021
People 12/16
Grace McNamee has been promoted to editor at Bloomsbury.
Obituary: bell hooks
bell hooks, 69, author and feminist critic, died of renal failure on December 15 at her home in Berea, KY. She was the author of more than 30 books on gender and race, including Ain’t I a Woman? Black Women and Feminism and We Real Cool: Black Men and Masculinity.
Acquisitions: ABC-CLIO to Bloomsbury, Wuxiaworld to Radish
Bloomsbury has acquired academic publisher ABC-CLIO for $22.9 million (£17.3 million). ABC-CLIO will become part of Bloomsbury’s Academic and Professional division within Bloomsbury USA. In 2020, ABC-CLIO reported sales of $14.7 million (£11.5 million), and profit before tax of $1.2 million (£0.9 million). Outside of integration and acquisition costs, the company is expected to add £2.1 million in revenue and £0.3 million in profit before tax to Bloomsbury’s current fiscal year, which ends on February 28. “ABC-CLIO is a strong addition to Bloomsbury USA, our Academic and Professional division and Bloomsbury Digital Resources,” Bloomsbury ceo Nigel Newton said. “This acquisition […]
Barack Obama’s Best Books of 2021
People 12/15
Maureen Cole has been promoted to senior director, publicity at Morrow Group.