Amazon reported fourth quarter results Thursday afternoon, and after a run up before the report, shares fell more than 4 percent in the first 30 minutes of trading on Friday. The market’s sour reaction was based on tepid guidance: The company currently expects Q1 sales growth of between only 10 percent and 18 percent compared to Q1 2018. As well, cfo Brian Olsavsky told investors on yesterday’s conference call that investment was likely to increase compared to last year. Fourth quarter sales were $72.4 billion, a 20 percent increase over the same period last year, and net income increased to […]
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Kate Dresser has been promoted to senior editor at Gallery. Shawn Sarles has joined DK as a sales manager (after serving as a sales Analyst at Hachette Book Group); and Katie Schloss has joined the company as a brand manager. At the University of Chicago Press, Carrie Olivia Adams has been named promotions and marketing communications director of the books division. Richard Atkinson left his position as senior commissioning editor at Bloomsbury UK in November after 12 years with the company to focus on writing a family memoir. The Harlequin Creator Fund announced last November is now open for submissions. Former vp […]
Barnes & Noble Has Small Holiday Gain, But It Comes At a Cost
Barnes & Noble reported sales for holidays, with same-store sales gaining a little bit over the nine weeks ending December 29, up 1.3 percent. “Although we got off to a slow start, sales picked up momentum as we moved deeper into the season,” chairman Len Riggio says in the announcement, with same-store sales in the smaller window between Black Friday and New Year’s Day rising 4 percent. (The latter is not the traditional measure and does not deserve to feature in anyone’s headline; historically the chain has always reported the full nine-week holiday sales period.) The small improvement still marks […]
Barnes & Noble Education Shares Fall Hard On Poor Quarter
Barnes & Noble Education underperformed again, with second quarter sales falling 8.1 percent to $815 million, and investors headed straight for the door. Ninety minutes after the market opening, shares were down approximately 28 percent, to about $4.60 a share, which would be a new all-time low for the stock if it holds. (At that price, the market cap is around $209 million.) Sales at the College stores declined $54.4 million, with comparable store sales down 5.6 percent, “primarily due to lower textbook sales.” Sales from net new stores (new stores less closed stores) declined by $15.2 million, compared to an increase […]
Barnes & Noble Has Slimmer Loss, Smaller Sales Decline
If you are looking to reassure yourself as Barnes & Noble heads into the crucial holiday sales period, then here is what you will focus on in the company’s fiscal second quarter earnings report this morning. Same-store sales fell by only 1.4 percent, which the company calls a “significant improvement” and touts as their “best quarterly performance since the fourth quarter of fiscal 2016.” With a low bar set after some poor holidays — down 6.4 percent last Christmas, following a 9.1 percent same-store decline for Christmas 2016 — the company expects to see “continued sales improvement during the holiday […]
Indigo Revenue and Profitability Down, Online Sales Up
Indigo released second quarter results for the period ended September 29. Revenue was $216.3 million (CA), a decrease of $8.3 million, “driven by the closure of a few low performing stores and renovations in 12 stores as the Company continues to transform its retail operations.” They closed two stores in the quarter, one of which is being relocated. Comparable retail superstore sales for the quarter decreased 1.4 percent, driven by softer store traffic, while small format store comp sales increased 3.1 percent. Meanwhile, the net loss increased measurably, at $19.1 million ($.70 per share) compared to a net loss of […]