UK retailer WH Smith released their year-end earnings report for the period ended August 31, and the company stated it “is now in its strongest ever position as a global travel retailer” with sales that not only rebounded post pandemic, but reached their highest level ever: overall sales of £1.4 billion were up 58 percent over last year. Profit before tax was £63 million compared to a £(116) million loss last year. High street sales, however, remain well below were they were pre-pandemic (after declining for a decade), registering £473 million, down (2.5) percent from last year’s £485 million. Trading […]
Harper Union Begins Strike
Workers in the Harper Collins Union began an open-ended strike today, as they have not yet reached an agreement with management on a contract, and are picketing in front of the company’s NYC office. The NYT notes that union seeks an increase in the minimum starting salary from $45,000 to $50,000. As previously indicated, the union says it is also seeking “a greater commitment to diversifying staff.” Astoria Bookshop announced that it would donate the proceeds from any Harper books sold at the store on Nov. 10 and 11 to the strike fund, to help make up for striking workers’ […]
New Books Publishing November 8
This week’s fiction releases include novels by Michael Connelly and Lynn Steger Strong, while nonfiction includes work by Haruki Murakami and Kerri K. Greenidge. Also out this week is new fiction by Kevin Wilson, S. E. Boyd, and Catherine Newman, all excerpted in our Buzz Books 2022: Fall/Winter anthology. 20 works of fiction https://bookshop.org/lists/new-fiction-publishing-november-8 8 nonfiction titles https://bookshop.org/lists/new-nonfiction-publishing-november-8 We consult a number of sources in compiling our weekly lists and PM members can see our lists for the coming three months through this reference page. But if you want to make sure your key titles are on our radar, now you can use this […]
People 11/7
SVP, communications & events Erin Coffey is leaving Macmillan on December 1.
Harper Union Moves Strike Date; Management Comments
The Harper Collins Union announced that, if it cannot reach an agreement on a contract with management, it would begin striking on Nov. 10 instead of Nov. 7, “because we want to make sure all our employees are able to participate fully in the crucial midterm elections on Tuesday [Nov. 8].” In a memo to staff on Friday, the company commented on the negotiations for the first time. Management says that it has agreed to a number of the union’s proposals, and hopes to reach an agreement. They noted that entry level salaries have gone up 25 percent since the last time […]
Storytel Improves EBITDA Margin, Stock Rebounds
After a brief preliminary report a month ago, Storytel released their full third quarter earnings report on Thursday. As announced in October, sales were up 27 percent to SEK742 million ($70.4 million). Newly reported today, earnings were SEK59.2 million, with “positive cash flow” and a positive EBITDA margin of 7.3 percent, “driven by the strategic shift to focus on profitable growth, the acquisition of Audiobooks.com as well as related restructuring of the organization.” CEO Johannes Larcher underscores that, “Refocusing the company on our home markets in the Nordics and a limited number of other priority markets, with a clear focus […]