Sales and Profits Slide at S&S Sales fell four percent in the fourth quarter at Simon & Schuster to $252.5 million as operating income dropped 26 percent to $27 million. The company says “best-selling titles… did not match contributions from prior year titles.” while the profit drop is attributed to “the decline in revenues and higher employee-related and digital archive costs.” For the full year, though, sales were up 10 percent, at $886 million and profits were up 29 percent at $88 million, improved in part by “lower bad debt expense.” Release Follett Buys Varsity, Cheap Follett has agreed to […]
