Donna Shear will become director of the University of Nebraska Press on March 1. She has been director at the Northwestern University Press since 2003. At Riverhead, Laura Perciasepe has been promoted to associate editor. Abby Ranger, previously associate editor at Scholastic Press, has joined Disney-Hyperion Books as editor, reporting to editorial director Stephanie Owens Lurie. Willow Glen Books in San Jose will close at the end of June, owner Cathy Adkins announced. “The downturn of the economy and the steady growth of online book sales has prompted her to shutter the store” ahead of her planned retirement in 2010.Mercury […]
Bookstores
Barnes & Noble Cuts Almost 100 Jobs
The leading bookseller announced after the close of the market that they are eliminating “close to 100 positions in its corporate headquarters.” CEO Steve Riggio notes in the release it is “the first time in the company’s history we’ve had to do this,” adding that “the business climate in which we are operating is unprecedented, and therefore, the reduction in expenses is inevitable.” He notes “the current business climate and the downturn in retail sales mandate that we reduce corporate overhead costs as appropriate to our overall sales volume.” The company will take an after-tax charge of $2.5 million to […]
Sales Fall at Waterstone's
Sales for the five-week holiday period fell 2 percent on a same-store basis and 0.9 percent overall–but extend the period to 10 weeks, and the comps were down 4 percent as overall sales fell 3.2 percent. (The company did not report actual revenue numbers.) Waterstone’s does disclose to the Bookseller that they sold almost 30,000 Sony Readers in the UK since the device went on sale there in September.Release Also in the UK, Bloomsbury issued a nonspecific trading update that says activity “was in line with management’s expectations” and they expect to have cash at the end of the fiscal […]
New York Judge Rejects Amazon Tax Suit
Judge Eileen Bransten dismissed lawsuits by Amazon and Overstock challenging New York State’s Commission-Agreement Provision that levies sales tax on internet sellers who have affiliate relationships with people and companies in the state. Bransten found that the law “does not broadly tax any and all Internet sales to New York consumers. It requires a substantial nexus between an out-of-state seller and New York through a contract to pay commissions for referrals with a New York resident along with realization of more than $10,000 of revenue from New York sales earned through the arrangement. The neutral statute simply obligates out-of-state sellers […]
Pershing Installs New Chairman at Borders
Pershing Square executive Richard “Mick” Maguire will become non-executive chairman of the board of directors at Borders, taking over from Larry Pollock, the company announced this morning. McGuire joined the board in January 2008 “in connection with his role as a partner at Pershing Square Capital Management,” and he is leaving the investment firm now “to pursue entrepreneurial interests.” Pollock will remain on the board, and Mike Archbold moves up to lead director. The NYT, which had an advance look at the announcement, confirms in its story that new ceo Ron Marshall was recruited by Maguire. Borders “has been working […]
BAM Has the Best Holiday Comps, As Indies Take A Hit
Books-A-Million reported sales for the nine-week period ending January 3 of $127.5 million, down 2.5 percent from a year ago, and a decline of 5.6 percent on a comparable-store basis. Which actually makes them the top performer among the three biggest book chains. CEO Sandra Cochran says, “Given the challenging retail environment, we were pleased that we could record an improvement in the sales trend we saw during the third quarter. Holiday sales came later than ever this year, reflecting a cautious and price-sensitive consumer. The success of Stephanie Meyer’s Twilight series was the big story in books this season. […]