Archives for July 2024
Booktopia Files for Bankruptcy
Australian retailer Booktopia finally made its long-awaited announcement, that it is filing for voluntary bankruptcy. The stock continues to be suspended from trading on the Australian Stock Exchange, and McGrathNicol Restructuring is “undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are explored,” a release states. The first meeting with creditors will take place before July 15.
TikTok Lifts Kindle Sales, Too
It’s not just for books. TikTok readers have discovered ereaders and self-proclaimed “Kindle girlies” are fueling device sales, particularly for Amazon. The WSJ speaks to vice president of Amazon Devices and Services Kevin Keith, who says in that vague happy Amazon way that “Kindle sales have grown in double-digit percentages for each of the past two years and are on track for similar gains this year.” Keith reports that a good portion of that growth — approximately 60 percent — comes from people who have never owned a Kindle ereader previously. (On the other hand, that also means that about […]
BNED Looks Forward to Normal Payables, Lower Interest Costs
After a completing complicated refinancing plan, Barnes & Noble Education released earnings for the fourth quarter and full year ended April 27, 2024. Results were in line with their preliminary report from May: For the year, sales were up 1.6 percent to $1.57 billion, owing to major growth in the First Day Complete business, and offset by the closing of several store locations. Net loss was $(62.5) million, compared to $(90.1) million the previous year. Adjusted EBITDA was $45.2 compared to a loss of $(8.1) million in 2023. The company said in a release that “due to vendors tightening payable […]
New Books Publishing July 2
This week’s fiction releases include new titles by Joy Williams, J. Courtney Sullivan, and Tehlor Kay Mejia. Cady Coleman and Maureen Callahan publish nonfiction works this week, while July’s children’s releases include books by Karen M. McManus, Jennifer Lynn Barnes, and Gordon Korman. Also publishing this week are new novels from Ruby Dixon, Francesca Segal, and Liz Moore, all excerpted in our Buzz Books 2024: Spring/Summer sampler. 30 works of fiction https://bookshop.org/lists/new-fiction-publishing-july-2 7 works of nonfiction https://bookshop.org/lists/new-nonfiction-publishing-july-2 17 children’s titles https://bookshop.org/lists/july-2024-children-s-releases From Buzz Books https://buzz.publishersmarketplace.com/ We consult a number […]
DK Acquires “A Kid’s Book About” Series
DK has acquired US-based media company A Kids Co.’s book series A Kid’s Book About. The line of children’s books, focused on diverse storytelling and representation, has been sold direct-to-consumers. DK had previously licensed and sold a portion of the line and now will sell the full list of 170 titles globally. A Kids Co. was founded in 2019 by author and entrepreneur Jelani Memory. The company will “continue to produce new podcasts, operate the direct to consumer business, seek brand partnerships outside of books, and pursue additional multi-media opportunities to tell impactful stories for kids of all ages.” Memory […]