Hastings Entertainment reported fourth quarter and full year results Monday morning and the losses continue to mount. For the quarter, the company reported a net loss of $8.4 million (or 1 dollar a share), considerably worse than the $3.8 million in profit reported a year ago, with an overall loss of $17.6 million for the year. Overall book comps actually increased 2.4 percent for the quarter, “primarily due to sales of the Nextbook Premium 7 e-reader tablet and related accessories” and an uptick in trade paperback sales that offset continuing sales declines in new mass market books and used hardbacks. […]
Booksellers
Holiday Comps Decline Yet Again at Books-a-Million
Books-a-Million reported yet another weak holiday quarter, with same-store sales down 5.7 percent (compared to an ever lower-bar). Sales rose 10.7 percent, to $166.9 million, based on the net addition of 20 stores. While Barnes & Noble had one of their best holiday sales seasons in years, BAM has had at least six consecutive years of negative comps in the quarter. Net income from continuing operations was $7.6 million, up $0.9 million compared to a year ago–but they incurred costs for the quarter of $1.6 million related to the closing of 21 underperforming locations and the opening of 41 new […]
Barnes & Noble Sells More Books, But Liberty Share Dilute Earnings
Barnes & Noble reported third quarter earnings Tuesday and, consistent with their holiday sales update, business increased at the retail stores. At $1.494 billion, store sales were up 2 overall; same-store sales rose 2.8 percent, and the company said “retail core” comparable sales, excluding devices, accessories and warranties, rose 4.2 percent compared to a year ago. (Those increases are all slightly smaller than the growth reported for the nine-week holiday period on its own) BN.com sales rose 32 percent to $420 million, on the rising Nook business but with “a decline in online physical product sales”; college sales slid, “due […]
Indigo Sales Up Slightly As Profit Falls in Third Quarter; Company President Steps Down
For their fiscal third quarter ending December 31, Indigo reported sales from continuing operations of C$353 million, up 0.5 percent from a year ago, with net profit of C$23.7 million (down from $27 million a year ago), affected by $4 million in non-cash asset impairment charges during the quarter. Superstore comps rose 1.8 percent and smaller-format stores were up 2.5 percent, but physical book sales declined, compensated for by rises in gift, lifestyle, toys, and ereaders. Online sales rose 9.3 percent compared to a year ago, at $31.2 million. Now accounted for separately as discontinued operations, Kobo had sales for the quarter of […]
Amazon’s Fourth Quarter Sales Are $800 Million Below Expectations; NA Media Growth Falls to 8 Percent
In recent quarters Amazon’s sales have grown sharply while earnings have diminished as the company invested in increased capacity and growing their Kindle business. At the close of the market Tuesday, the company reported fourth quarter sales that will be viewed as a stumble by Wall Street: Their $17.43 billion in revenue is well below the $18.2 billion analysts were expecting, though in the middle of the company’s broad guidance, up 35.5 percent over a year ago. The stock headed south in after-hours trading on the sales shortfall, down almost 9 percent, and fell further in regular trading this morning, […]
Corporate: Apple Sold 15.4 million iPads in First Quarter; Meredith Buys AllRecipes.com
Apple reported record earnings for the first quarter of its fiscal year, ending December 31, and beat Wall Street expectations so handily the stock was halted after hours Tuesday, rising more than $30 a share. The company sold 15.4 million iPads and 37 million iPhones during the quarter on net income of $13.1 billion, and $43.4 billion in revenue. Profits more than doubled compared to the first quarter of 2011. Apple sold over 40 million iPads in 2011, and has moved more than 55 million units since launching in early 2010. Release Though Random House was among the four reported […]