Booksellers

Canada’s Indigo reported fiscal first quarter sales Tuesday afternoon with sales falling $12.8 million (or 6.2 percent) to $192.6 million (CA). Superstore comp sales decreased 6.5 percent, small format stores fell 2.4 percent, and online sales were $5 million lower (or down 14.8 percent), at $28.8 million. But the company says the reductions were planned as part of a move to bolster earnings: “The decline in sales was a result of a strategic shift to reduce promotional activity to improve profitability, and eliminate unprofitable sales. Additionally, the general merchandise business continued to be affected by softer discretionary spending in product […]

Pearson reported half-year results for 2019 on July 26, with sales down to £1.83 billion, from £1.87 billion the first half of last year. The sale of their US K-12 company reduced sales by £141 million, with the strengthening dollar adding £69 million. Adjusted operating profit was up to £144 million from £107 million last year. Penguin Random House, in which Pearson has a 25 percent stake, “performed in line with our expectations with revenue growth on an underlying basis due to a rise in print and audio sales, which were partially offset by lower ebook sales.” As for specific […]

Barnes & Noble reported on June 19 what may be its last quarterly earnings statement in its waning days as a public company, and the numbers held few surprises. For the fourth quarter, sales were $755 million, down $31 million from a year ago, with same-store sales declining 2.3 percent. The net loss was $18.7 million, a slight improvement over a loss of $21 million last Q4. Consolidated EBITDA, which excludes one-time charges, was $4.6 million in the fourth quarter, compared to $6.7 million a year ago. For the year, sales were $3.553 billion, from $3.662 billion in 2018. Net […]

As we told you was expected when correcting the NYT’s appraisal of how Indigo is “reinventing bookselling,” the company reported a poor fourth quarter to end a difficult fiscal year on May 28. For the fourth quarter ending March 31, sales of $199 million (CA) were $16.2 million lower, with same-store sales falling 8.7 percent (affected in part by the timing of Easter). The seasonal net loss for the quarter was ($23.8 million), compared to a loss of ($10.7 million) a year ago. For the full year, sales of $1.047 billion were down $32.8 million, or 3 percent. Overall same-store […]