Booksellers

Barnes & Noble Education reported results for the third quarter ended January 25, with sales up 2 percent to $466 million due to modest growth in its subscription courseware program First Day Complete. Net income grew to $7.1 million after a loss of $(9.9) million in the same period last year. But the gain is due in large part to a $7.6 million one-time benefit from “the termination of liabilities related to a frozen retirement benefit plan,” according to the company’s SEC filing. Adjusted EBITDA grew 30 percent to $27.4 million due to lower expenses from “cost-savings, productivity initiatives, and […]

Swedish audiobook company Storytel announced financial results for the fourth quarter and full year 2024. Fourth quarter sales were SEK1.028 billion, up 9 percent—the first time the company has exceeded SEK1 billion in a quarter, influenced particularly by strong results in the publishing segment. Operating profit was SEK136 million, up from a loss of SEK(-680) million. EBITDA was SEK223 million, compared to a loss of SEK(-7) million during the same period last year. Streaming sales for the company were up 7 percent to SEK879 million and publishing sales grew 15 percent to SEK332 million. For the year, sales were up […]

WH Smith offered a brief trading update for the 21 weeks ended January 25. Sales for the high street business — which the company is looking to sell — were down 6 percent in the period, or down 3 percent on a “like-for-like” basis at constant currency, “in line with expectations.” They expect to save £11 million in costs for the full year within the segment. The travel business delivered a 7 percent increase in sales, or 6 percent like-for-like. Sales at the company overall rose 3 percent in the period.

Waterstones filed a report for its fiscal year ending April 27, 2024 with the UK’s Companies House, reporting increased sales following the full integration of results from the acquired Blackwells and Foyles into their results. Sales were £528 million, up from £453 million the prior year, and operating profit rebounded to £43.8 million, up from £13.9 million. The previous year they suffered from “disruptions to the distribution center, caused by the implementation of a new warehouse management system.” As of the end of the previous fiscal year, the company was in the process of refinancing a £77.9 million term loan […]

Barnes & Noble Education released only preliminary results for their second quarter ended October 26, historically their biggest and most profitable period. Sales are expected to be “approximately flat” — compared to a weak performance a year ago, when they reached $617 million (down from $627 million the prior year and well below pre-pandemic levels of $772 million in 2019). They estimate net income registered between $44 million and $49 million, compared to $25 million last year, “driven by comparable store top-line growth and continued improvements in cost management.” After a first quarter loss of $(99.5) million, the company is […]