Barnes & Noble announced the shortlist for their annual Discover Prize.
Bookselling: B&N to Replace Two Amazon Books Stores
Barnes & Noble will fill two small footprint former Amazon Books locations near Boston, after Amazon decided to close its physical retailers this year. B&N outlets will open in Legacy Place mall in Dedham, MA on November 18 and MarketStreet mall in Lynnfield, MA later in November. The company has touted a plan to open 16 new bookstores in 2022, though many of those have been smaller, replacement stores in areas where older stores were closed. They say they have “a further 30 new stores in active planning for 2023.” “A few years back it would have been unthinkable for […]
Scholastic “On Plan” for First Quarter, with Bigger Seasonal Loss
Scholastic announced earnings for the first quarter of 2023, ended August 31, with sales of $263 million, up 1 percent from last year. The company said results were “on plan” for the quarter, which usually reports an operating loss, with a typical dip in the summer when kids are out of school and investments in Education Solutions. That operating loss this quarter was $(58.1) million, compared to $(32.0) million last year. The greater loss was due to increased freight costs and lower sales in Education Solutions. Last year results also benefited from “the timing of shipments related to the pandemic.” […]
France Imposes Minimum Shipping Fee for Book Orders
The French government has set a minimum fee of €3 for online book orders of less than €35, Reuters reports. France has submitted the proposal to the EU and the fee will take effect six months after it is approved. In December of last year the government passed a law requiring a minimum shipping rate — aimed to level the playing field between independent retailers and Amazon, which offers shipping as low as one cent — but hadn’t determined what the rate would be.
Bookselling: B&N in Bellvue, WA
Barnes & Noble will open a new store at the Crossroads Shopping Center in Bellvue, WA on September 28, while closing their store at 106 Ave NE downtown. The old store will be razed to make way for a “three-tower, mixed use redevelopment.”
Yaged Begins Running Macmillan
President of Macmillan Publishers US Jon Yaged has taken over the day-to-day duties of running the company, ceo Don Weisberg told employees today. In May, Weisberg announced that he would step aside as ceo and Yaged would assume the title at the end of the year. Today’s announcement is part of “continuing the CEO transition.” Weisberg indicates he “will continue to be available to everyone for advice or guidance through the end of the year when Jon takes on the CEO title.” In a memo to staff, Yaged detailed a number of personnel changes. Clare O’Rourke is promoted to cfo, […]