Penguin Random House continues to expand, acquiring mind-body-spirit, self-help, health and wellness publisher Hay House, for undisclosed terms. Long self-distributed, Hay House moved their distribution to PRHPS in 2018. They have a backlist of over 1,500 titles. Hay House ceo Reid Tracy will continue to run the operation, and “no changes are planned for its Carlsbad, CA, New York, and London offices, or its management and employees.” The company was founded in 1984 by Louise Hay, author You Can Heal Your Life. Tracy says in the announcement, “I am excited to remain at the helm of Hay House in partnership […]
More of the Best of the Best Books of 2023
Right on schedule as usual, with many more listmakers weighing in, the favorites have separated into two pretty clear lists of top fiction and nonfiction. At the top of the lists, novels by James McBride and R.F. Kuang are vying for book of the year honors, with a number of other titles tightly packed and right behind them. In nonfiction the competition at the top is equally close between Safiya Sinclair’s memoir and David Grann’s latest. (Kuang’s Babel was tied for No. 9 on last year’s fiction list, while McBride’s Deacon King Kong was tied for No. 6 on the […]
Bloomsbury Says It’s Outperforming Expectations
In a brief trading update, Bloomsbury reported that sales are “comfortably ahead” of analysts’ expectations for their fiscal year, ending February 29, and profits are running “materially ahead” of projections. Chief executive Nigel Newton says those results are being “driven by the continued phenomenal demand for fantasy fiction,” and in particular by Sarah J. Maas’s 15 titles. The company compares its results to expectations of sales for the full year of £274 million and profit before taxation and highlighted items of £32.9 million. Last year set records for the company in both sales and earnings, with revenue of £264 million […]
Simon & Schuster Announces Board of Directors
The newly-independent Simon & Schuster announced its board of directors. The independent directors comprise former PRH US ceo Madeline McIntosh, recent COO of TikTok V Pappas, and former Disney executive Kareem Daniel (whose positions at the company included a period as president of Consumer Products, Games and Publishing). KKR’s Richard Sarnoff serves as chair of the board, joined by KKR colleagues Ted Oberwager and Chresten Knaf. All three serve on the board of OverDrive, also owned by KKR. Simon & Schuster ceo Jonathan Karp sits on the board as well. He says in the announcement, “We are thrilled to have […]
Barnes & Noble Education Ekes Out Gains
The company’s fiscal second quarter report oozes with high fives as the company celebrates what they term an increase in sales, up by what we technically call a “smidgen,” at $610.4 million, compared to adjusted sales of $608.6 million a year ago. (Their actual sales a year ago were $617.1 million — which includes $8.5 million from their Digital Student Solutions segment, which was sold in May.) Net income did rise, at $24.2 million, up $2 million from a year ago (with income from continuing operations up less, gaining about $700,000). Comparable store course material sales rose by 5.8 percent, […]
Sales and Earnings Fall at Wiley As It Reorganizes
On Wednesday morning Wiley reported fiscal second quarter results, showing declines in sales and earnings, in line with their previously announced reorganization plans. Sales of $493 million were down 4 percent from $515 million a year, and operating income of $46 million was down 19 percent from $57 million. They took impairment charges of $52 million against the various businesses that have been up for sale, and recording restructuring charges against layoffs. PL had reported a New Jersey WARN notice regarding the termination of 103 people between mid-November and mid-January, and a spokesperson confirmed that was just part of “a […]