Swedish audiobook subscription service Storytel published its 2020 annual report, with total sales of SEK 2.39 billion ($268 million), up from SEK 1.84 billion, exceeding its goal for the year despite a strong Swedish krona. The company’s pretax loss was SEK (210) million, an improvement from SEK (380) million last year, though the company remains…
Earnings Reports
PRH Gains in 2020 On “Growing US Business” and Digital Increases
Bertelsmann reported financial results for 2020, with Penguin Random House showing substantial gains in profit and a strong sales performance with meaningful “organic” sales growth for the first time since Penguin and Random House merger (see table below), helped by a string of acquisitions in 2019. Sales were €3.802 billion, up €166 billion from 2019,…
Bloomsbury Upgrades Expectations for Fiscal Year After “Exceptional” February
Ahead of their formal annual report in June, Bloomsbury announced a “second upgrade” in expectations, after “exceptional” February sales in consumer books, led by Sarah J. Maas’ just-published A Court of Silver Flames. Due to the pandemic the company never issued formal guidance for the fiscal year, which ended February 28; rather, they have benchmarked…
Quarto Holds onto Modest Profit Despite 7% Sales Decline in 2020
Quarto reported earnings for the year ended December 31, 2020, with sales of $127 million, down from $136 million, a decline of 7 percent. US sales of $76 million were down by $4 million, as were non-UK sales in Europe of $17.4 million. Operating profit was $9.3 million, up modestly from $8.8 million, due to lower administrative expenses….
Scholastic Trade Up Slightly, While Book Fairs Weigh Heavily on Overall Results
Scholastic reported earnings for the fiscal third quarter ended February 28, with sales of $278 million, a decrease of $96 million, down 26 percent. The decline was mainly due to lost sales in its big book fair business (where sales of $27 million were down 73 percent, a $73 million shortfall) as many schools remained…
Barnes & Noble Education’s Struggle Continues; WH Smith Improves Its Burn Rate
Barnes & Noble Education reported earnings for the third fiscal quarter ended January 30, with sales of $412 million, compared to $503 million last year, a decline of 19 percent. While sales were better than analysts’ expectations, earnings were worse, with net loss of $(48) million, down from $(2) million last year. The loss included…