In a video posted to YouTube, Greenlight Bookstore owner Jessica Stockton Bagnulo announced that the Flatbush Avenue location will close on May 14. Bagnulo explains that the location is not “making enough sales to cover the costs of operating it,” and that the company’s other locations can no longer support it. Some booksellers will be “moving on,” and management is working with the union to make that process “as equitable and transparent as we can.” Bagnulo is quick to explain that the closure is not due to Amazon’s destructive influence on brick-and-mortar stores, a decline in book sales overall (“[people] […]
People 3/13
Cordelia Calvert has joined Ecco as director of publicity, reporting to Sonya Cheuse. She was previously at Liveright.
R.L. Stine Says He Didn’t Make Years-Old Goosebumps Edits
In the wake of reports of classic books by Roald Dahl and Ian Fleming being revised, R.L. Stine responded to reports that he made changes to his Goosebumps series to remove potentially offensive language. Though many reports imply that the novels are currently being edited and reissued, including changing numerous instances of the word “crazy,” Scholastic stated that the changes took place when the classic novels were republished years ago. “I’ve never changed a word in Goosebumps. Any changes were never shown to me,” Stine wrote on Twitter. Many books in the series were re-released in paperback from 2008-2011, and […]
BNED to Drop Stores That Don’t Bundle Course Materials
Barnes & Noble Education announced results for the third quarter ended January 28, with sales of $447 million, up 11 percent from $403 million last year. Net loss was $25 million, down from a loss of $36.8 million in 2022. These improvements are tempered by the fact that results are still down from pre-pandemic earnings, which were falling even then. (For comparison, sales for the same quarter in 2020 were $502 million, $550 million in 2019, and $603 million in 2018.) In a call with investors on Thursday, ceo Michael Huseby said that First Day Complete, a program that bundles […]
Wiley Reorganizes Education Reporting, Takes Impairment Charge and Reduces Guidance, As Quarter Is “Below Expectations”
Wiley reported third quarter earnings for the period ended January 31, with sales down 5 percent to $491 million. They showed an operating loss — of ($67.1) million — compared to profit of $46 million last year, mostly due to a non-cash goodwill impairment charge of $100 million. Adjusted EBITDA fell 2 percent (or 3 percent at constant currency) to $97.7 million. Following the challenging quarter they also reduced their outlook for the fiscal year, “primarily due to increased academic market headwind.” Sales are expected to be $45 million to $55 million lower than forecast, and adjusted EBITDA is expected […]