Anthony Cheetham is stepping down as ceo of Head of Zeus in January 2014, though he will retain the role of chairman. Replacing him as ceo and publisher is Amanda Ridout, who will join the company on September 4. Ridout was most recently managing director of Phaidon Press, and before then managing director of HarperCollins UK. “I am delighted to join the team at such an exciting time in the company’s development,” Ridout said in a statement. “After just a year in existence they have already got a strong list of authors and I look forward to building on these […]
Bookstores
Lynch Resigns from Barnes & Noble; Is Replaced By No One In Particular
After presiding over losses of hundreds of millions of dollars with a device-focused strategy that ended in tatters the past holiday season, Barnes & Noble ceo William Lynch has resigned effective immediately. Announced after the close of market on Monday, the official remarks made it sound as if Lynch was asked to leave; he says “I appreciate the opportunity to serve as CEO of this terrific company over the last three years.” Just four months ago in early March the company had amended and extended Lynch’s employment agreement to award him a cash bonus of $1.8 million for the Microsoft and Pearson […]
People, Etc.
Julie Trelstad has joined Writers House as director, digital rights. Previously she was an independent consultant and founder of Plain White Press. At Harlequin, Emer Flounders has been named publicity manager, fiction. Previously he was a senior publicist at Simon & Schuster’s adult trade imprint. In addition, Lauren Jackson recently joined as associate publicist. Previously she was a publicity assistant at Tarcher. At eBound Canada, Krystyna Ross has been appointed Interim chief executive officer, replacing Robert Hayashi who left the organization earlier in the year. Most recently an independent publishing consultant, Ross has held executive positions with McClelland & Stewart […]
BN Shares Fall 17 Percent, Then Recover Slightly
Barnes & Noble stock fell more than 17 percent on Tuesday after their poor earnings report, falling roughly $3.20 a share to close at $15.61. But the stock has bounced back a little this morning, moving back over $16 a share as part of a general market rally. One thing missing from yesterday’s release and investor discussion was any characterization of Nook’s share of the ebook market. In written testimony offered as part of the recently Apple ebook pricing trial, one prosecution expert witness is said to have concluded from retailer-supplied data that in February 2013 that Barnes & Noble’s […]
Indigo’s Plans Include In-Store Boutiques, Apple Products, and International Expansion
Canada’s dominant bookseller Indigo announced a variety of new plans. They will redesign many of their superstores to feature a variety of “store within a store” boutiques, such as Indigo Kids, Indigo Tech and Indigo Home. In 2014, they will begin selling Apple products in 40 of their stores. More vaguely still — but provocative — cheif executive Heather Reisman said they have plans to open bookstores outside of Canada in 2 years, “though she declined to say which markets the retailer is considering.” Similarly to Barnes & Noble (though Indigo headed in this direction earlier), “the bookseller has been […]
Barnes & Noble Has Big Declines At Retail Stores and Nook; Takes $151 Million Charge and Will “Partner” On Color Tablets
Barnes & Noble reported another poor quarter to end fiscal 2013: Sales of $1.28 billion were down 7.4 percent from $1.38 billion a year ago, and the net loss doubled to $118.6 million, or $2.11 per share. Both results were far worse than analysts had forecast (as we covered yesterday). Results “were adversely impacted by Nook inventory charges”–they took $133 million in inventory charges in the fourth quarter on device markdowns and a goodwill impairment charge of $18.3 million in Nook selling and administrative expenses “as recurring losses have led to revisions in its strategic plans.” Even with the discounting, the […]