Amazon reported sales for the first quarter on Thursday afternoon, as net income more than doubled, to $1.63 billion, well ahead of analysts’ expectations. The stock is trading near all-time highs on the strong report. Sales of $51 billion were well ahead of the $35.7 billion in the same quarter a year ago. That was…
Booksellers
Bezos Reveals Amazon Stats — On Prime Members, and Big Kindle Earners
Amazon ceo Jeff Bezos released his annual shareholder letter on Wednesday, revealing for the first time that has more than 100 million paid Prime members globally. In another, less widely-reported statistic, Bezos wrote that over 1,000 Kindle Direct Publishing authors earned over $100,000 in royalties in 2017 (thus comprising over $100 million). Beyond that, third-party…
Barnes & Noble Plans 5 More New Stores, Takes Big Charge After Poor Holiday
“Even when an organization is working with a sense of urgency…turnarounds take time,” Barnes & Noble ceo Demos Parneros told investors on this morning’s third quarter conference call, after reporting a poor holiday quarter (in line with their previous warning), layoffs, and a big non-cash charge. His job on the call was to assure investors…
Barnes Education Sees Sales Gains, Takes Huge Writedown
Barnes & Noble Education reported its third quarter results for the 13-week period ending January 27. While sales of $603 million increased $82 million, or 15.7%, as compared to a year ago, BNED incurred a net loss of $283 million, compared to net income of $3.8 million the prior year. The recent acquisitions of MBS…
Waterstones Performs Only A Little Better, and Restates Debt Schedule
UK bookseller Waterstones reported results for the fiscal year ending back on April 29, 2017, which the UK media has reported with their customary excess of enthusiasm. What the numbers show is that sales were flat or somewhat down, at £404 million, compared to £409 million in fiscal 2016 (which was an unusual 53-week year)….
Holiday Book Sales Were Fine, But Not At Barnes & Noble; Chain Reduces Earnings Guidance
Unfortunately Barnes & Noble continues to underperform the book business as a whole, disclosing holiday sales in contrast to the industry trend. Sales for the nine weeks ending December 30 were $953 million, down 6.4 percent compared to the prior year, and down the same percentage on a same-store business. Book sales on their own were…