Jeff Tegge has joined Legato Publishers Group, the recently announced new distribution affiliate of Publishers Group West headed by former IPG chief Mark Suchomel, as vp, sales. Legge was formerly a colleague of Suchomel’s at IPG, where he also had the title of vp, sales. Christina Quintero has joined Little, Brown Books for Young Readers as art director for licensing. Previously she was associate art director at Grosset & Dunlap/Price Stern Sloan. The Guggenheim-Lehrman Prize is a newly launched award for the best scholarly book in military history. The prize, worth $50,000 will be awarded beginning in February 2014. The ABA announced […]
Booksellers
Sales, Comps and Earnings Fall at BAM with No Big Hits; Sales and Profits Drop for Indigo
Following the expansion of their store footprint over a year ago, Books-a-Million has returned to sales declines on both an overall as well as a comparable store basis. For their first quarter, ending March 4, overall sales fell 7.4 percent to $104.5 million (down from $112.8 million a year ago), and same-store sales dropped 6.8 percent. As a result, their net loss from continuing operations increased — up to $3.7 million, 25 cents per share, almost double the $1.9 million loss recorded a year ago. CEO Terrance Finley said in the announcement, “Our first quarter results were slightly below our […]
Briefs: People, Terms, Awards, and More
As part of Simon & Schuster’s move towards what they see as a “globally coordinated, strategic approach to our worldwide ebook business,” current vp, business development Doug Stambaugh has been named vp, global ebook market and development strategy, reporting to Dennis Eulau. In the newly created position, Stambaugh will evaluate opportunities for retail expansion, and new partnerships, digital channels and publishing initiatives, and develop company-wide strategies, policies and best practices in areas ranging from terms and pricing to DRM, technology platforms and new business models. “While digital content is firmly established as a significant portion of our business, the digital […]
Sales Rise 22 Percent At Amazon, Though International Media Stalls
Amazon’s sales grew 22 percent to $16.07 billion in their first quarter, as operating income fell to $181 million (down $11 million) and net income dropped more, down $48 million to $82 million in the quarter — for a margin of just over half of one percent. Though slim, those earnings were ahead of analysts’ expectations (but sales were slightly below estimates). The company forecast a likely loss for the next quarter (or a best a tiny margin of up to $10 million), and sees sales growing 13 percent to 26 percent. On that softer than expected outlook, shares fell […]
Bookselling: Northshire to Hire 25 For Saratoga Springs Store; Blackwood & Brouwer to Close; WH Smith Declines Continue
Northshire Books, which is preparing to open a second store in Saratoga Springs, NY, will announce later today that the store will hire 25 full-time and part-time employees. The Post-Star reports interviews will begin in Saratoga Springs next week, and will continue throughout the spring. Conversely, Blackwood & Brouwer in nearby Kinderhook, NY will close at the end of June after 23 years in business. “There’s no blame coming from us in any specific direction,” co-owner Rondi Brower told the Albany Times-Union. “It was a combination of factors. The miracle is that we stayed alive so long, not that we’re […]
Extra Week in Fiscal Year Boosts Books-A-Million’s Full-Year Sales and Profits
Books-A-Million reported fourth quarter and full year results Wednesday afternoon, which reflect an extra added week that happens once every six years in the company’s reporting cycle. After four straight quarters of sales gains, BAMM saw a small decline (0.8 percent) at $165.6 million compared to a year ago. Same-store sales continued their pattern of quarterly declines, down 6.1 percent, though net income, at $8.1 million for the quarter was up from the $7.6 million reported during the same period last year. For the year, net sales increased 7.5 percent to $503.8 million (from $468.5 million, though based on a […]