About Michael Cader

Michael Cader is the creator of Publishers Lunch and PublishersMarketplace.com
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Amazon: Bonds, Bombast, and Life Offline

by on August 16, 2017 in Bookstores, Finance

Today's Amazon news spans a wide gamut. Yesterday, the company quickly completed their largest debt offering ever, raising $16 billion in seven tranches -- ranging from three-year to 40-year notes -- with "strong demand" from investors rewarding the company. They are reported to have paid approximately 90 basis points (o.9%)…

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Briefs

by on August 11, 2017 in Awards, Free, New Releases/Forthcoming, Personnel

At Macmillan Children's Ebony Lane has been promoted to senior rights manager, rights and permissions.​ Catherine Kramer has been promoted to subsidiary rights associate. Finalists were announced for the PEN Center USA Awards, in 8 categories, with the winners to be named in September. (The original version of this was a…

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Soft Quarter Leaves Harper Sales Down for the Year

by on August 10, 2017 in Earnings Reports, Publishers

News Corp. reported fiscal fourth quarter 2017 earnings on Thursday afternoon, with HarperCollins recording sales of $407 million, down $26 million from a year ago (-6%). Of the decline, $19 million was simply because the same quarter a year ago comprised an extra week, and the company said negative foreign…

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Merchandise Sales Continue to Lift Indigo

by on August 9, 2017 in Booksellers, Earnings Reports

Canadian chain Indigo continues to post good results, driven by their transformation to "cultural department stores." Sales in their fiscal 2018 first quarter rose $13 million to $206 million (CA), with adjusted EBITDA of $100,000, compared to a loss of $6.1 million a year ago. The overall loss was $7.2…

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Quarto In Talks with Buyer After Poor First Half

by on August 8, 2017 in Earnings Reports, Publishers

Quarto has effectively been in play since their profit warning about a month ago, which took the stock down close to 45 percent, and today the company acknowledged having "received an approach" from a buyer. Acknowledging that "discussions with the bidder are at an early stage" and could fail to…

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Another Good Quarter for Simon & Schuster

by on August 7, 2017 in Earnings Reports, Publishers

CBS reported second quarter earnings on Monday afternoon and publisher Simon & Schuster built on a good first quarter with more gains, rebounding to a more usual second quarter performance. Sales of $206 million were up $19 million from a year ago, "led by growth in print book sales and…

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Barnes & Noble Education Buys Online Writing Business for $58.5 Million

by on August 7, 2017 in Education, Finance, Free

Barnes & Noble Education acquired Student Brands on Friday for $58.5 million in cash. Student Brands is a subscription-based writing skills services business, with properties in the US, Brazil, France and Mexico. BNED has been trying to buy its way to growth, so far without convincing investors. Earlier this year…

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Pearson Will Cut Another 3,000 Jobs; PRH Sales Down "Slightly"

by on August 4, 2017 in Earnings Reports, Publishers

Pearson announced results for the first half of the year and expanded on the details of their latest in a cycle of continuous restructuring, first announced in May. Another 3,000 employees will be eliminated over the next three years, "with a particular focus on managerial positions." The company confirmed that…

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Trade Gains As Houghton Is Flat Overall

by on August 3, 2017 in Booksellers, Earnings Reports

Houghton Mifflin Harcourt reported flat second quarter sales at $393 billion, as billings declined by $17 million. In what is seasonally a weak quarter, they had a higher net loss of ($46.9 million), compared to ($28.4 million) a year ago, and a bigger operating loss, $10 million higher at $31…

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"Services" Continue Growth In Modest Quarter for Apple

by on August 1, 2017 in Booksellers, Earnings Reports

Apple reported fiscal 2017 third quarter earnings, with sales $45.4 billion (up $3 billion) and net income of $8.7 billion (up from $7.8 billion a year ago). Traditionally one of Apple's lighter quarters, those results were still ahead of analysts' expectations -- and the company's own guidance for the next…

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