Struggling Bonnier Books UK announced improved sales in 2018, at £71.5 million (up 15 percent compared to 2017), and a reduced operating loss of £3.6 million. Operating EBITA was up £11m compared to 2017. “After a very weak 2017, Bonnier Books UK has made sizable progress towards its goal of sustainable profitability and looks set to be back in the black by 2019,” said Jim Zetterlund, chairman of Bonnier Books UK. But the real news is the disclosure of how much the unit lost, along with steep recapitalizations by the parent company. For 2017, the company reported a whopping operating […]
McGraw-Hill Reports 2018 Declines
McGraw-Hill reported its 2018 Q4 and full-year earnings and annual report today, with overall 2018 revenue of $1.6 billion. This is the fifth straight year of sales decline for the company, down from $1.83 billion in 2014. For the quarter, performance was “generally in-line with expectations,” with total billings down to $302 million from $340 million (11 percent decline) and adjusted EBITDA to $(25) million from $(5) million. The year as a whole was weighed down by “substantial headwinds” in the K-12 adoption market, which significantly impacted EBITDA — as well as by investment in new Higher Ed “affordability initiatives” […]
AAP’s January StatShot Shows 7 Percent Decline in Adult Trade
The AAP released their StatShot publisher-reported monthly sales statistics for January. As we have explained before, the statistics for any given month turn out to have little or no statistical significance, particular for the print categories. The current report has adult trade sales at $352.5 in January 2019 (down 7 percent from $380 million last January), with hardcover sales 10 percent lower and mass market sales 18 percent lower. Children’s and YA increased 4 percent, to $137 million from $132 million. Children’s hardbacks and paperbacks showed slight increases, with board books up 15 percent. Digital audio continued to gain, at […]
PEN America and the Authors Guild Stand Against Quad/LSC Merger
Monopoly watchdog group the Open Markets Institute has filed a brief, signed jointly by PEN America and the Authors Guild, encouraging the Department of Justice’s Antitrust Division “to block the merger between the two sole competitors in the long-run magazine and book printing markets,” Quad and LSC Communications. In October, Quad (formerly Quad Graphics) announced a deal to acquire LSC, and in February secured the credit to finance the $1.4 billion deal. The deal requires regulatory approval and is currently under review. Open Market’s March 6 letter argues that Quad and LSC represent the only two options for the printing […]
As Hudson Group Grows, Media Sales Continue to Slide
The Hudson Group, the travel retailer and bookstore, released Q4 and full-year 2018 earnings, as well as their first annual report since going public in February 2018. Book sales are registered in a breakout of “literature and publications,” with that segment declining slightly in the three years of data provided, as “confectionary, food, and catering” grew commensurately. Literature and publications comprised 9 percent of company sales in 2018, or $167 million, declining from $176 million and $193 million in 2017 and 2016 respectively. In 2016, literature and publications were almost 12 percent of sales. Meanwhile, the company opened a new […]
Lagardere Publishing Profit Falls
After reporting a slight revenue decline of 1.6 percent for full-year 2018 back in February, at €2.252 billion, Lagardere Publishing has now reported full results in line with the expectation that 2018 would be “a more challenging year.” Profits for the year fell more than sales, at €190 million, down 9.5 percent from recurring EBIT of €210 million in 2017. The company said that the weakness in education sales in France — which were down €49 million — “weighed on profitability, as education has a higher operating margin.” Additionally, under nonrecurring items — which as we have observed in the […]