The Shanghai International Children’s Book Fair (CCBF), scheduled for November 19 to 21, has been postponed due to the resurgence of COVID-19. The new planned dates — March 20 to March 22 — coincide with the Bologna Children’s Book Fair, currently set for March 21 to 24. Shanghai organizers write that: “For the first time, the two major professional children’s book fairs will connect East and West through innovative real-time events. By mobilizing their wide array of resources, the two fairs will organize joint activities in copyright trade, book promotion and illustration so that participants at both ends of the […]
Bookselling: Barnes & Noble In Skokie, IL to Close As Landlord Redevelops
A BN store in Skokie, IL’s Old Orchard Mall will close Christmas Eve after 27 years there, as the landlord is redeveloping the site and declined to renew the lease. The bookseller says, “We are doing everything we can to find a new store in this area and are very close to announcing a new location.”
Storytel Keeps Growing, But Will Be At Lower End of 2021 Guidance
Storytel reported third quarter results on Friday, with continued strong growth, including an increase of 19 percent in streaming sales and 27 percent in their subscriber base. But full year projections are now at the lower end of the revised guidance given last quarter, sending shares down 17 percent in a short trading day in Sweden. Streaming sales were 583 million SEK, compared to 490 million a year ago, and book publishing sales were 180 million, up 20 percent from 150 million a year ago. The streaming subscriber base was up 27 percent, to 1,724,000. Like many other publishers in […]
Harper Gains On Strong Market, HMH
News Corp. reported fiscal first quarter sales after the close of the market on Thursday, with HarperCollins showing increases “driven by strong sales and the successful integration of HMH.” Sales were $546 million for the quarter, $88 million higher than a year ago. HMH accounted for $50 million, with adjusted revenue or organic Harper sales up 7.2 percent over last year’s $458 million, helped by $7 million in foreign exchange. (A year ago, HMH recorded sales of $55.7 million in the same quarter, including $4 million in licensing revenue for the Carmen Sandiego series on Netflix.) In the conference call […]
Another Sale at Follett: Management Leads Buyout of Baker & Taylor
Follet has sold Baker & Taylor to a private investment group, led by president and CEO Aman Kochar. The disposal follows the sale of Follet School Solutions to Francisco Partners at the beginning of September. Follet bought Baker & Taylor and Bookmasters from Castle Harlan in 2016. B&T has slimmed down since that transaction, most notably with their exit from the business of wholesaling books to retailers in 2019. Kochar says in the announcement, “This is a pivotal and exciting time for Baker & Taylor. As an independent entity, we look forward to leading with our expertise and legacy and […]
Another Record Third Quarter for Simon & Schuster
ViacomCBS reported third quarter results on Thursday morning, with publisher Simon & Schuster well exceeding last year’s third quarter, which had set a new record for revenues. This year, third quarter sales hit $321 million, up 15 percent from $279 million in 2020 (which compared to $217 million in 2019, and $240 million in 2018). Operating income grew even more, to $93 million, compared to $56 million in 2020. (“Earnings” from discontinued operations, with is “primarily” S&S, were $94 million, versus $61 million a year ago.) CEO Jonathan Karp said, “It was a stellar quarter in an outstanding year,” with […]