The bookseller is modifying its longstanding membership program, making it more…complicated. The $25 membership is turning into a $40 “premium” program. The main enhancements are extending the 10 percent discount to most online purchases, some additional cafe enhancements, and a “free” tote bag every year. A new initiative offers a free rewards program, providing rewards […]
Simon & Schuster Celebrates Record Year
As was clearly in the works but is now official, Simon & Schuster is celebrating an “extraordinary, stratospheric” and record year — “the greatest year in the history of Simon & Schuster” — far exceeding $1 billion in sales for the first time ever and capping a three-year run of record results. Sales were a […]
Lagardere Publishing Gains on Acquisitions and FX, Falls on Comp Basis
Lagardere reported fourth quarter and full-year results on Wednesday after the market close in Paris. Sales at Lagardere Publishing were €752 million for the fourth quarter, down €20 million compared to the previous year, a 2.6 percent decline overall (and down 8.1 percent on a like for like basis). Foreign exchange provided a €21 million […]
On Schedule, Paramount Restarts Sales Process for Simon & Schuster
“Sources” confirm to Reuters that Paramount Global has begun shopping Simon & Schuster again through a financial adviser. Liontree advised the company on the sale to Penguin Random House that was blocked by the court. As expected, those sources also suggest the company is focusing on the clear, uncomplicated path to successful sale this time: […]
Bookselling: More Barnes & Noble News
On Wednesday Barnes & Noble opens a new, modestly-sized 7,000-square-foot store in the Paddock Shops in Louisville, KY, a day after they close a much larger 25,000-square-foot store in the same shopping center. Separately, another longtime BN in Rochester Hills, MI closed on Sunday after 27 years in that location.
Macmillan Raises Starting Salary
On Wednesday, Macmillan announced that they will increase their entry-level base salary to $47,500, effective April 1. That brings them in line with Hachette Book Group, which announced a similar increase a week ago. Macmillan has been paying a starting salary of $42,000. Macmillan noted, “Additional adjustments will be made to current salary bands to […]