Wiley reported second quarter sales for the period ended October 31, with sales of $491 million, compared to $466.2 million last year’s period, an increase of 5 percent. Excluding acquisitions and currency impact, however, revenue was flat. Adjusted EBITDA was $120.3 million, increased from $110 million, or 7 percent. Significantly, the company reinstated guidance for…
Booksellers
WH Smith Ends the Year with a Loss As UK Deals with Second Lockdown
WH Smith announced preliminary results for the fiscal year ending August 31, with High Street sales of £468 million, 19 percent lower than a year ago, which the company still called “resilient.” High Street stores lost £(10) million for the year, compared to profit of £60 million last year. (Using the new accounting standards for…
Storytel Outperforms Its Own Forecasts
Swedish audiobook subscription service Storytel announced earnings for the third quarter ended September 30, with net sales of SEK609 million ($70.6 million), up from SEK491 million in last year’s period. Streaming sales were SEK490 million, up from SEK 399 million, or 23 percent. The company averaged 1.36 million paying subscribers in the quarter, up 34…
Indigo Reports Second Quarter Growth, As Online Gains Outweigh Store Declines
Canada’s Indigo Books reported sales for the fiscal 2021 second quarter ended September 26, at $205.3 million (CA), up from $203.4 million in the same period last year, an increase of $1.9 million. Net loss was $(17.5) million, slightly improved from a loss of $(20.5) million last year. The key was that pandemic-driven online sales…
People, Etc.
Emma Berry joins Basic Books and Seal Press on November 16 as senior editor. Most recently, she was editor at Crown. Karen Edwards has been promoted to executive editor for the Workman imprint. John Passineau has joined the Workman children’s team as a senior designer. Previously, he was a freelance designer. Rebecca Davis has been promoted…
Barnes & Noble Education Posts Another Steep Decline
Barnes & Noble Education reported earnings for the first fiscal quarter of 2021 ending August 1, with sales of $204 million, compared to $320 million in last year’s quarter, a decline of 36 percent. The net loss steepened to $(46.7) million, compared to $(32.2) million last year. With the majority of campus bookstores closed all…
