Strong Quarter for S&S; Waterstone’s Down Again Riding a considerable boost from The Secret, sales at Simon & Schuster jumped 27 percent for their first quarter, hitting $229 million, up $48 million from a year ago. Operating income rose even more dramatically to $21.4 million, up from $3.7 million last year, “driven by the revenue increase partially offset by higher expenses, primarily reflecting increased production costs and royalty expenses.” Meanwhile, the UK continues to succeed in progressively destroying their full-line bookstore chains in favor of supermarkets and other discounters. Waterstone’s parent HMV noted in a trading update that same-store sales […]
