Quarto announced results for the first half of the fiscal year ended June 30, with sales of $52 million, down 16 percent from $61.9 million in the same period in 2022. The sales decline was in part due to the company closing their distribution service and selling their Smart Lab toy imprint. Adjusted operating profit was $3.1 million, compared to $6.1 million last year. The company also noted that the book market overall has been more challenging in 2023 than 2022, though they expect it to pick up in the rest of the year as inflation is past its peak. […]
