Waterstone’s Hopes They’re Improving from Terrible to Poor They try to sugar-coat it, but UK-based retailer HMV and their bookselling unit Waterstone’s continue to struggle with their turnaround plan. Overall full-year results at HMV were a little worse than analysts were expecting, with sales of 1.894 billion pounds, and pre-tax profit of just 48 million pounds. At Waterstone’s full year sales of 537.5 million pounds were up 28 percent overall with the integration of Ottakar’s, but down 4.1 percent on a same-store sales basis. Operating profit continues to be slim, at 16 million pounds down considerably from 21 million pounds […]
Lunch for Wednesday, June 27
Delay In Pearson/Harcourt Deal The UK’s Office of Fair Trading is examining Pearson’s acquisition of parts of Harcourt Education to see if it could “result in a substantial lessening of competition” in the UK education market, in which case they would refer it to the Competition Commission for further examination. The combined companies should have about a 23 percent share of the primary and secondary school market. Pearson Education executive John Fallon says, “The OFT enquiry is a matter of course in that, as Harcourt is the market leader in the UK, we fully expected that the OFT would want […]
Lunch for Tuesday, June 26
Pearlstine Blames Cooper and Others Former Time executive Norman Pearlstine reportedly uses his book (publishing today) OFF THE RECORD to clear himself of responsibility in the Valerie Plame/Matt Cooper case, while “naming names, mouthing off about his enemies, and firing back at those who criticized his cooperation with federal prosecutors,” Radar reports. Reporter Matt Cooper “was less than perfectly discreet after he got Karl Rove on the phone on Friday, July 11, 2003, to talk about Plame,” Pearlstine says. “More than two dozen Time Inc. employees… had had access to e-mails in which Matt had named Rove as his source.” […]
Lunch for Monday, June 25
San Diego Paper Plans Changes The San Diego Union Tribune will be the latest newspaper to “adjust the way we’re presenting book coverage,” according to senior editor, special sections Chris Lavin. Those changes “will both improve and broaden our coverage of books,” Lavin insists, though agent Sandy Dijkstra has circulated an e-mail warning that the paper is turning its Sunday book review section into two pages within the entertainment section after June 24 ad will cut reviews by half. Lavin says that information “is not complete or accurate” and indicates the changes will be announced to readers within the paper. […]
Lunch Weekly for Monday, June 25
Deal Reports Just e-mail to deals@PublishersMarketplace if you aren’t using the online form linked below. Report a deal using the online form The Key As usual, the handy key to our Lunch deal categories. While all reports are always welcome, those that include a category will generally receive a higher listing when it comes time to put them all together. “nice deal” $1 – $49,000 “very nice deal” $50,000 – $99,000 “good deal” $100,000 – $250,000 “significant deal” $251,000 – $499,000 “major deal” $500,000 and up FICTION Debut Gil Adamson’s THE OUTLANDER, in which a mysterious, desperate young woman flees […]
Lunch for Friday, June 22
Personnel News Former AMS ceo Gary Rautenstrauch has been named ceo of SirsiDynix, which provides technology solutions to the library market, starting this weekend at ALA. Douglas Maughan joins him as the new cfo. Da Capo Press executive editor Marnie Cochran is joining Ballantine as an executive editor in late July, and will continue to work from Boston. With her switch, Perseus is making Marlowe & Company a part of Da Capo’s Lifelong Books imprint, with Matthew Lore, as vp and executive editor. Wendy Holt Francis, Katie McHugh, and Renée Sedliar have all been promoted to senior editor, reporting to […]