Barnes & Noble Education announced fourth quarter earnings, with sales of $256.9 million, down from $334.4 last period, a decline of 23.2 percent. Retail, by far BNED’s largest segment, was heavily hit as COVID shut down campuses nationwide, while sales in the much smaller wholesale and digital student solutions increased. Net loss was $(40.3) million,…
Booksellers
Indigo Had Fourth Quarter Sales Drop and Big Writedowns, Before the Major COVID Impact
Canadian bookseller Indigo reported results for the fourth quarter ending March 28, with a poor finish to what had already been a transitional year for the company. Fourth quarter sales of $178 million (CA) were down 10.6 percent compared a year ago, falling $21 million. Stores were closed for the last two weeks of the…
Hudson’s First Quarter Sales Down 23 Percent as Expected
Confirming preliminary estimates offered in April, the travel retailer and book chain Hudson reported first quarter sales for the period ending March 31 of $341.5 million, down 23.3 percent due to COVID-related store closures in airports worldwide. Sales of “literature and publications,” which includes books, fell even further, at $24.6 million, down 31 percent from…
WH Smith High Street Profit and Sales Fell in Fiscal First Half — Then April Sales Dropped 74 Percent
WH Smith reported earnings for the six months ended February 29, 2020, with High Street sales of £315 million, down from £331 million — continuing their long, steady decline, this time down 5 percent overall, and 4 percent lower on a same-store basis. High Street profit was £44m in the period, compared to £48 million…
Books Continue to Decline as Percentage of Sales at Hudson
The Hudson Group, the travel retailer and bookstore owned by parent company Dufry, released Q4 and full-year 2019 earnings as part of their 2019 annual report last week. Unlike last year’s annual report, real figures for book sales (or rather, “literature and publications”) weren’t included. However, literature and publications represented 7.8 percent of total net…
WH Smith Estimates Lower Sales and Profits at Travel Stores; Hudson Reports Duty-Free Impact
WH Smith provided an early update on its half-year results, alongside a warning about the potential impact of Covid-19 on earnings. For the first half of the fiscal year through the end of February, overall sales rose 7 percent, though High Street bookstore sales fell 5 percent, and were down 4 percent on a same-store…