Pan Macmillan said digital sales for the first quarter of 2011 made up 8 percent of total revenue, and they expect that number to rise to about 10 percent for the full fiscal year. (That puts them at the high end of UK publishers disclosing ebook sales so far.) Over the same period, the publisher’s sales of print books have also shown “double-digit sales growth.” The Bookseller In contrast, in a statement timed with their annual meeting, Quarto said US ebook sales of their illustrated books are heading towards a projected 2 percent of sales. They add, “there is talk […]
Booksellers
Layoffs at Barnes & Noble Distribution Warehouse; Big Q1 Earnings Drop for BAMM
Barnes & Noble laid off an unspecified number of employees at its distribution warehouse in Monroe, NJ earlier this week. In addition, the Social Security Administration is looking into possible discrepancies in employment information at the center, though a BN spokeswoman said “the reduction in workforce … has nothing to do with the Social Security inquiry,” and declined to say how many employees were being questioned in the matter. MyCentralJersey.com Sales for Books-A-Million’s first quarter dropped 11 percent to $104 million, with store comps falling 13.2 percent from last year (when the company reported a 3.6 percent drop from 2009.) […]
In April, Borders Has $32.1 Million Operating Loss–And $132.2 Million Total Loss
Borders reported sales of $101 million for the month of April and “other revenue” (primarily from the liquidators) of $72.1 million–producing an operating loss of $32.1 million. But they lost another $98.4 million in “reorganization items” that includes “amounts related to estimated claims arising from the closure of certain stores and the rejection of related leases.” The total one-month tally is sales of $173.1 million, and a net loss of $132.2 million. The monthly operating loss appears to be growing–for most of March it was $24.3 million, and for most of February it was $28.3 million.
Harlequin Balances Digital Gains with Currency-Related Declines
Harlequin’s parent company Torstar reported first quarter sales, with the book publishing unit appearing to show mixed results. For some reason the company did not break out the quarter’s book publishing sales but they indicate revenues rose $3.9 million (CA)–which, based on last year’s results, would put them at $116.9 million, still well below first quarter 2009, when sales were $124.5 million. They did break break out EBITDA, which declined $1.2 million to $22 million for the quarter. As usual, currency effects and hedges figure prominently in the group’s results, particularly with the Canadian dollar rising again. Management assures investors […]
Borders Tallies Their Record Losses, Before and After Bankruptcy
In two different statements filed with the SEC, Borders has further cataloged the many ways in which they excel at losing money. Let us count the ways: In the most recent operating month under bankruptcy, between February 27 and March 26, Borders preliminary calculation is that they lost $24.3 million on sales of $91.4 million and “other revenue” of $73.8 million. In the prior month, between January 30 — two weeks before filing for Chapter 11 — and February 26, the company lost $28.3 million, on sales of $127 million (and other revenue of $38.5 million). Yes, that’s a loss […]
Sales Still Climb for Amazon, but Q1 Profits Fall Further
Amazon reported first quarter sales of $9.86 billion, up 38 percent from a year ago, but for the fourth straight quarter–and as guided three months ago–net income fell to $201 million, down by a third, and operating income declined to $322 million, a $72 million drop as compared to last year. Earnings per share of 44 cents were well below analysts’ estimates of 61 cents a share, but sales were higher than predicted. While an earnings shortfall usually leads to a big drop in the stock, Amazon’s shares are rising in this morning’s trading. The company’s margins continue to fall […]