Barnes & Noble will close both of its stores in Irving, TX on December 31. The Irving mall and Las Colinas locations are shutting down “as part of the national book store’s recent business decision to reevaluate low-selling locations,” according to neighborsgo.com. It goes along with the pattern in which BN closes stores when the leases expire if they cannot agree on acceptable renewals: December 31 will also see the shutdown of stores in Westlake, TX; Plainfield, IL; Campbell, CA; and, as previously reported, the Sixth Avenue store in New York’s West Village. BN will also close a store in […]
Booksellers
Nook Growth Remains Moderate in Barnes & Noble’s Second Quarter, Weighing On Share Price
For the second straight quarter, Barnes & Noble beat Wall Street’s diminished expectations, with a reduced net loss of 4 cents a share (or $7 million) versus the predicted loss of 6 cents to 11 cents. EBITDA rose as well at $64.8 million, a 16 percent increase compared to a year ago, and while retail bookstore sales declined, those profits doubled. Though full holiday results won’t be reported until January 3, BN said Nook device sales “doubled over the four-day Black Friday weekend, across all channels” as compared to last year. The biggest likely concern–that we have pointed to before–is […]
Books-A-Million Sales Rise Again in Third Quarter On Soft Store Comps; Courier Publishing Revenues Decline
Books-A-Million reported third quarter results Tuesday afternoon, and for the fourth straight quarter sales rose — thanks to the dozens of stores they added after Borders closed — but same-store sales continued their pattern of declines as well, down 3.6 percent. Sales of $104.7 million were up 11 percent compared to a year ago, and their net loss of $2.8 million for the quarter was an improvement from the $3.8 million in losses a year earlier. BAMM ceo and president Terence Finley said the third quarter results “reflect stabilization in our core book business and improvements in our toys & […]
People, Etc.
Rodale Books publisher Steve Perrine is leaving the company after more than 20 years along with Men’s Health editor-in-chief and general manager of Rodale Books and the Healthy Living Group Dave Zinczenko. The NY Post reports the two men “are said to be teaming up on a new venture” while ceo Maria Rodale told the paper Zinczenko’s departure “was a mutual decision, but we initiated the discussion.” Former literary agent at ICM Kate Lee has joined online publishing platform startup Medium as director of content in New York, where she will “be building a small team to help her.” They […]
Bookselling: That Bookstore in Blytheville Finds New Buyer; WHSmith High Street Comps Drop 5 Percent
Arkansas-based independent That Bookstore in Blytheville, which looked like it was going to close this week, has found a new buyer, Arkansas Business reports. Grant Hill told the paper he was “working with Southern Bancorp and the Greater Blytheville Area Chamber of Commerce to secure the $35,000 needed to buy the business” from owner Mary Gay Shipley, who put the store up for sale in February. Shipley confirmed the purchase, saying “We are getting to a contract and hope to be able to make an announcement soon.” In the UK, WHSmith said in a brief update that high street sales […]
Indigo Falls on Lower Book Sales and Delayed Devices
Canada’s dominant bookseller Indigo reported a 5.9 percent decrease in sales of $185.6 million for the fiscal second quarter. Though the company sold their stake in Kobo, they still blame “a delay in the planned launch of the new Kobo devices” as the primary cause of the revenue drop. They claim “book sales for the quarter were down only modestly” yet the superstores sales comps were down 6.5 percent, and small-format store comps fell 2.2 percent. Their operating loss of $5.9 million was much better than a year ago–but that’s because they had a major writedown against Kobo’s goodwill last […]