The Association of American Publishers released its StatShot data for December and for all of 2022 from participating publishers, with trade sales falling 6.2 percent for the year and 6.4 percent for the month. Net trade sales for the year were $8.385 billion, down from $8.938 billion. As with Bookscan-reported print sales figures, that is still a substantial gain over 2020 (when trade sales totaled $7.88 billion) and 2019 (at $7.40 billion), and the second-best total ever. Adult sales were $5.76 billion, down 6.4 percent (-$394 million), while children’s and YA books dropped 5.7 percent (-$159 million) to $2.619 million. […]
Harper Sales Fell 14%; Offset By Lower Employee Costs
News Corp. reported fiscal second quarter earnings on Thursday for the period ended December 31, with sales at Harper Collins of $531 million, a 14 percent decline from $617 million in 2021, attributed to lower book sales “due to slowing consumer demand industry-wide, difficult frontlist comparisons and some logistical constraints at Amazon.” The strong dollar accounted for $22 million of the decline. The “softness” in sales was “notably in North America.” EBITDA was $51 million, down 52 percent from $107 million last year, due to those same lower sales trends, as well as “ongoing supply chain, inventory and inflationary pressures […]
Harper and Union Reach Tentative Agreement
Harper Collins and the union, which has been on strike for 66 business days — just under three calendar months — have reached a tentative agreement after mediation. “The tentative agreement includes increases to minimum salaries across levels throughout the term of the agreement, as well as a one time $1,500 lump sum bonus to be paid to bargaining unit employees following ratification,” a release states. Management and the union’s bargaining committee have agreed to the deal, which will be brought to a vote from the full union. If ratified, the contract will extend through the end of 2025.
Indigo Discloses Ongoing “Cybersecurity Incident”
Canadian bookseller Indigo experienced a “cybersecurity incident” on Wednesday. Currently the chain’s website is down except for an announcement of the incident, and stores can only process cash transactions. Returns, gift cards, and electronic payments are unavailable. Indigo is “working with third-party experts to investigate and resolve the situation,” the website reads. Additionally, a spokesperson told Canadian media the company is working with third-party experts to determine if any customer data was breached, telling customers on social media they were trying to “understand if customer data has been accessed.” No other details of the incident were provided. When Barnes & […]
People 2/9
Edward Ash-Milby has joined Insight Editions as executive editor of Weldon Owen, where he will be responsible for "establishing a significant music-related publishing list" and expanding the cookbook category. Ash-Milby was a buyer at Barnes & Noble for almost 30 years, specializing in biography/memoir, cookbooks, and health.
Non-Union Harper Employees Discuss Workload, In-House Morale, and Solidarity
As the Harper Union marks its 64th business day picketing outside of the company’s financial district headquarters, many non-union employees inside the building feel similarly disheartened and burned out as they take on the jobs of striking colleagues in addition to their own hefty workloads, and process the news that 5 percent of their number will be laid off by the end of June. PL spoke to non-union (and non-executive) Harper employees in various book-facing departments, who asked to remain anonymous, about their experiences during the months of the strike. Employees report that they’ve been working late nights and on […]