Canada’s Indigo Books reported sales for the fiscal 2021 second quarter ended September 26, at $205.3 million (CA), up from $203.4 million in the same period last year, an increase of $1.9 million. Net loss was $(17.5) million, slightly improved from a loss of $(20.5) million last year. The key was that pandemic-driven online sales remained more than twice as high as they were a year ago, at $63 million — up 113 percent over the $29.5 million a year ago — which made up for the $32.7 million (19.3 percent) decline at their physical stores, which registered $136.8 million […]
September AAP StatShot Reports Another Good Month for Trade Books
AAP released its StatShot of publisher reported sales for September, with combined adult and children trade sales of $877 million, up from $718 million, or 22 percent higher. Shipments were up as well, at $978 million, up from $837 million last September, as the trade pushed out fall inventory ahead of the election and the anticipated supply chain challenges later this year. Gains were particularly strong in adult books, where net sales of hardbacks (at $258 million) and paperbacks (at $185 million) were 31 percent and 35 percent higher respectively, and gross shipments were an average of more than 20 […]
Bloomsbury Had Decent First Half
Bloomsbury announced results for the six month period ending August 31, with “stronger than anticipated” overall sales of £78.3 million, up from £71.3 million in the first half of 2019, or 10 percent. Pre-tax earnings were £4 million, up from £2.5 million. One-time charges of £1 million were down modestly from £1.2 million last year. The big boom came in May and June, previously reported over the summer, when the company said trade sales were up 28 percent for the first four months of the year, lifted by titles on race and a new Sarah J. Maas book. That increase […]
Parneros and Barnes & Noble Settle, Ending Two Years of Litigation
Barnes & Noble and its former CEO Demos Parneros have finally agreed to settle Parneros’ breach of contract lawsuit, filed over two years ago, shortly after he was fired. The move comes just days before the scheduled pre-trial conference. An October 23 letter to the court from BN counsel Jay Cohen was filed October 26, asking the judge to dismiss all remaining claims and counterclaims with prejudice. Each party will bear its own costs and fees, but any other settlement terms — in particular, how much Parneros might be paid from his original claim for severance due of $4 million […]
Booktopia Sets IPO for December 3
The Australian online bookseller Booktopia announced terms for a planned December 3 listing on the ASX exchange, with an aim to raise $25 million in proceeds from new shares. Existing investors plan a selldown of shares that would make another $18 million of stock available. At the current projected price, the company would have a market capitalization of $315 million. (Previously reported fiscal 2020 sales were $165 million, with EBITDA of $6 million. At publication, PL had not seen the official term sheet.) The company intends to use the cash to expand their distribution center and repay debt, as well […]
French Court Rejects Vivendi’s Request for an Early Lagardere Shareholder Meeting
A French commercial court has rejected the request of Lagardere shareholders Vivendi and Amber Capital to hold a special shareholder meeting, saying the two groups were acting in their own interest, not the corporate interest. “The plaintiffs do not demonstrate with the required evidence that they are pursuing a goal other than that of their own interests,” the court said in its October 14 decision. The decision is a win for Arnaud Lagardere, who is fighting Vivendi and Amber’s attempt to reseat the board and reduce his influence over Lagardere. Lagardère SCA released a statement saying that it welcomed the […]