Quarto reported an 8 percent rise in adjusted pre-tax profit for the year to December to £7.4m from £6.9m, and a 7 percent jump in revenue to £113.8m from £106.6m. Its publishing division revenue increased 7 percent to £75.1m. Quarto cited “continued focus on developing markets, in particular Brazil and China, and improved trading in the UK and Australasia” for the revenue and profit gains. Release Hay House has become the first publisher to sign on to use Vook’s engine for creating enhanced ebooks at scale (called MotherVook). The product “converts disparate and varied file formats; combines text, video and […]
Bookstores
BN “Welcomes” Spurned Amazon Affiliates; Texas Governor Supports Amazon In Tax Battle
Barnes & Noble has issued an open letter (e.g. clever press release) to Amazon affiliates whose business may be affected by the online retailer’s tax issues with certain states. They want spurned affiliates “to know that you are welcome to join the Barnes & Noble affiliate family. If Amazon doesn’t want you, we do! And, we will take care of collecting and remitting all sales taxes due on BN.com sales to its customers so you and our customers don’t have to worry about being hassled or prosecuted by state tax auditors.” BN has nexus in all states because of its […]
When Will Borders File For Bankruptcy? As Early As Today, Or Later This Week
The WSJ reported Friday afternoon that Borders “could file for Chapter 11 bankruptcy protection as soon as Monday or Tuesday,” but also cautioned “the filing could be delayed a few days.” Whenever the bankruptcy filing takes place, it will trigger the imminent liquidation and closure on a significant portion of their store base–now predicted to cover 200 of the company’s superstores (with an option to close 50 more) and all of its smaller mall-based outlets, among other restructuring efforts. If it comes before the end of this month, vendors who received checks at the end of November may have to […]
Briefs: Amazon to Close Distribution Center; E-Book Bundling; New Indies In Old Chain Locations; and More
Amazon announced it will close its distribution center in Irving, TX on April 12 and scuttle plans to hire 1,000 more people for the facility, which opened in 2006. The move came in response to an ongoing tax dispute with the State of Texas, which seeks to collect $269 million in revenue from the retailer. “Despite much hard work and the support of other Texas officials, we’ve been unable to come to a resolution with the Texas comptroller’s office,” VP operations Dave Clark said in a letter to employees obtained by the Dallas Morning News. “Closing this fulfillment [distribution] center […]
Store News: Diesel Malibu to Close; USA Today Celebrates Surviving Indies; NC Privacy Suit Settled, and More
Diesel Bookstore in Malibu will close shortly, but co-owners John Evans and Alison Reid hope to find a new location in which to reopen before the end of the year. They blamed a “a protracted legal skirmish” along with low sales, saying the retail center in which they are located turned into a “ghost town” after new owners took over. Diesel’s Brentwood and Oakland stores remain open, and are said to be doing well. LAist The NYT notes that in addition to the 31 layoffs at Powell’s, the bookseller “reduced its work force by about 40 employees in the last […]
Sales Grow But Indigo Profits Still Drop in Third Quarter
Third-quarter performance at Canada’s retailing giant Indigo looks reminiscent of Barnes & Noble’s trajectory, with ebooks, ereaders and online sales helping to lift sales while also weighing on expenses. Indigo’s revenues rose 14 percent to $387.6 million (CA), beating projections, but net profit of $30.2 million (or C$1.19 a share) was $4 million lower than a year ago, which was less than analysts expected. Superstore comps increased 2.6 per cent while smaller-store comps dropped 0.8 percent from last year’s levels, and the company’s online division was up 6.5 percent from a year ago. As with the previous quarter, digital investments […]