Pearson issued their traditional January “trading report,” with highlight data in advance of a full annual report on February 22. It brings familiar news regarding 2018 performance: The company remains adept at cutting costs, but not yet at increasing revenue, as the declining US higher ed market continues to weigh on their prospects. US higher ed courseware is expected to be down 5 percent year on year, a greater decline than expected by analysts. Pearson expects that trend will continue through 2019 as the long digital transformation continues: “Expect US HECW revenue to be zero to down 5% as underlying […]
AAP November Stats Show Strong Revenues Ahead of Holiday
We already know from NPD Bookscan that tracked consumer print book sales rose 1.3 percent by units in 2018, and soon the AAP will provide us with full revenue statistics for the year. In the meantime, the organization released their StatShot publisher-reported sales statistics for November. As expected, with the release of Michelle Obama’s BECOMING, trade revenues were very strong for the month in advance of holiday sales. Adult trade sales were $620 million, up from $518.5 million last November, and children’s sales were $271.2, up from $231.3 million. In both cases, hardcover books accounted for most of the gains, […]
Donegan Asks For Stay of Discovery, Dismissal of Defamation Suit
“S—-y Media Men” list creator Moira Donegan’s legal team filed a letter with Judge LaShann DeArcy Hall, arguing for motions to dismiss Stephen Elliott’s defamation lawsuit and to stay discovery until the judge rules on the motion, citing “the extraordinary weakness of [Elliott’s] allegations.” In a four-page letter, counsel Roberta A. Kaplan argues that Elliott’s self-promotional actions — as a writer and producer promoting his works at ‘publicity events,’ ‘interviews,’ and ‘panels’ — establish him as a public figure, who must therefore prove that Donegan acted “grossly irresponsibly” or “with actual malice” in publishing the claims against him, and that […]
Germany’s Book Trade Trended Slightly Positive in 2018 — Thanks to Price Increases
In 2018, Germans bought fewer books, but paid more for them, according to stats in the January issue of the German Publishers & Booksellers Association’s publication. “The [sales] balance for the year 2018 is … a wafer-thin increase of 0.1 percent” according to the report, but the number of copies sold fell by 1.4 percent. Buyers paid an average of 13.36 euros per book, 1.4 percent more than in 2017. The publication calls Christmas sales “solid,” yet the numbers are similarly mixed. Yes, December sales revenues were 0.5 percent higher than for December 2017, one of only seven months in […]
German Booksellers Thalia and Mayersche Announce Intended Merger
In a surprise move, two German bookstores — Thalia, the market leader, and Mayersche, a large regional chain — announced plans to merge, a deal that will first need to be approved by Germany’s Federal Cartel Office. While terms of the deal remain undisclosed, the Falter family, which owns Mayersche, will become partners in the consortium that owns Thalia, which includes the Herder and Kreke families, Leif Göritz, and Thalia ceo Michael Busch. Mayersche’s ceo, Helmut Falter, will join the consortium as a managing partner and member of the board, tasked with the integration of the two companies and future corporate […]
France Loisirs Book Club (and Shops) Emerges from Bankruptcy
France’s largest book club, France Loisirs, with retail shops as well, announced earlier this week that its year in bankruptcy reorganization is over. In late December, the Paris Commercial Court approved a two-part recovery plan, sources told Agence France-Presse. The first phase, implemented in 2018, preserved 437 jobs (out of a workforce of about 1800 people), closed 35 stores, and moved the corporate headquarters from Paris to Gentilly. The second part of the plan will reportedly refocus the business on books. (In 2013, the company had expanded into cosmetics sales.) The club says it still has over 1 million members. […]