If you are looking to reassure yourself as Barnes & Noble heads into the crucial holiday sales period, then here is what you will focus on in the company’s fiscal second quarter earnings report this morning. Same-store sales fell by only 1.4 percent, which the company calls a “significant improvement” and touts as their “best quarterly performance since the fourth quarter of fiscal 2016.” With a low bar set after some poor holidays — down 6.4 percent last Christmas, following a 9.1 percent same-store decline for Christmas 2016 — the company expects to see “continued sales improvement during the holiday […]
A Leading Agent Takes Center Stage with Hello Sunshine + Together Live
William Morris Endeavor’s head of Worldwide Literary, Lectures, and Conferences, Jennifer Rudolph Walsh, has another lesser-known, yet in some respects, higher-profile, role. She is the co-founder, along with client and author Glennon Doyle, of Together Live, an annual big-venue touring storytelling event/would-be movement that recently began its third year. Walsh is also its chief curator, moderator and MC, inaugural podcast host, and force majeure. “When we are brave enough to tell our own stories, and present enough to really listen to others as they share theirs,” Walsh wrote on Instagram on the eve of the first stop, in Boston, “real […]
Parneros v. Barnes & Noble Inches Forward
Judge John G. Koetl convened a pre-trial conference in the high-profile Parneros v. Barnes & Noble case Tuesday afternoon, which he kicked off by asking counsel to describe the case. Parneros’ attorney Anne Clark of Vladeck, Raskin & Clark rehashed the details of the original complaint before raising the possibility of a motion to dismiss Barnes & Noble’s counterclaims, saying they didn’t meet the court’s standards — and reiterated that the countersuit, along with the company’s press release when Parneros was fired, had made him unhirable according to headhunters. The judge was wary of dismissal, offering that “the existence of […]
Orwell Licensing Agreements Boost Trade Sales $15 Million at HMH
Houghton Mifflin Harcourt reported Thursday its operating and financial results for the third quarter ended September 30. Sales were flat, at $516 million — stable compared to the dark days of Q3 2016. Though net income was down 5 percent, or $4 million, to $86 million, earnings were still ahead of analysts’ diminished expectations and the stock is up sharply Thursday morning on the relief. After trading down to all-time lows after the second quarter results, shares are up about 20 percent in the first hour. Trade sales, which were weak last quarter, recorded a significant one-time boost, up $15 million, […]
Lagardere Publishing “Retreated” As Expected, But HBG USA Gains
Lagardere Publishing reported third quarter results on Thursday for the period ending September 30. Sales of €607 million were down 6.1 percent compared to €646 a year ago (and a big €675 in 2016), due to an expected weakness in European educational sales. The lack of curriculum reform in France accounted for that division’s decline of (14.7 percent), with weak educational sales also weighing on sales in Spain/Latin America (down 8.2 percent), and the UK (down 6.7 percent). The UK trade division also had a “lighter release schedule.” But HBG USA had a “sparkling performance,” up 5.1 percent for the quarter, […]
Indigo Revenue and Profitability Down, Online Sales Up
Indigo released second quarter results for the period ended September 29. Revenue was $216.3 million (CA), a decrease of $8.3 million, “driven by the closure of a few low performing stores and renovations in 12 stores as the Company continues to transform its retail operations.” They closed two stores in the quarter, one of which is being relocated. Comparable retail superstore sales for the quarter decreased 1.4 percent, driven by softer store traffic, while small format store comp sales increased 3.1 percent. Meanwhile, the net loss increased measurably, at $19.1 million ($.70 per share) compared to a net loss of […]