In a third-quarter trading statement, Bloomsbury says their “trading in the UK remains resilient.” They continue to expect the release of the new Harry Potter movie in November to boost book sales. The company writes: “Overall, business is performing well for the group. The outcome for the year is still dependent on the level of consumer and business to business demand between now and the end of the financial year. Major database projects are under consideration which forms part of new business in 2010.” Release Also in the UK, yesterday WH Smith reported preliminary results for the fiscal year. Same-store […]
Booksellers
At Ever-Shrinking Borders, Sales Fall 11.5 Percent On Loss of Over $51 Million
Borders reported second quarter sales of $526 million, down 11.5 percent from a year ago (when sales were down 17.7 percent compared to 2008–when sales were also down.) For a little perspective, sales in this quarter were $617 million in 2009; $749 million in 2008; and $945 million in 2007. The loss from continuing operations (to reflect the sale of Paperchase) was another $51.6 million, or 74 cents a share (perilously close to what shares themselves trade for), worse than $45.1 million a year ago. The operating loss of $37.7 million was also worse than the $25.7 million recorded a […]
Legal Costs Add to Barnes & Noble’s Losses, As Bookstore Comps Are Nearly Flat
Barnes & Noble reported first quarter sales of $1.397 billion, with a net loss of $62.5 million or $1.12 per share–at the high end of the company’s forecast losses, but more than analysts had penciled in as we reported yesterday. Among the expenses were $9.5 million (or 11 cents a share) “primarily” due to the legal battle in Delaware with Yucaipa. The company declined to discuss the proxy battle in this morning’s conference call with investors following the earnings release. Because of those legal costs and the proxy fight underway, the company lowered its full-year earnings forecast by 25 cents […]
Books-A-Million Comps Decline 3.4 Percent As Earnings Improve
The bookseller reported second quarter sales of $120 million, down 2 percent overall and down 3.4 percent on a same-store basis compared to a year ago. Net income of $1.9 million was up $500,000 compared to last year. BAMM ceo Clyde Anderson says in the release, “our team did a good job to deliver solid results in a tough environment” (which is what they usually say). They claim in the release that it was a difficult comparison to a year ago–“the success last year of the Twilight series and titles from Glenn Beck and Mark Levin proved difficult to match […]
Indigo Sales and Losses Both Rise, As Kobo Costs Weigh
First quarter results of Canada’s biggest bookseller–or “largest book, gift and specialty toy retailer” as they now describe themselves–Indigo carry an echo of what Barnes & Noble faces right. Same-store sales at their superstores rose by 1.5 percent, while smaller-store comps declined just 0.7 percent and overall sales of $204.3 million (CA) were up $10.7 million or 5.5 percent from a year ago. But their online sales remain flat in the face of Amazon’s growing strength in Canada and the net loss more than doubled, from $2.3 million to $5.3 million. CEO Heather Reisman says “the increased loss is not […]
Amazon Earnings Fall Short and Market Hits Shares
Amazon reported second quarter sales after the close of the market yesterday of $6.54 billion, up 41% from a year ago and on target with expectations of $6.5 billion. But net income of $207 million, or 45 cents a share, was well short of analysts’ expectations and below the low end of the company’s own guidance. The consensus expectation was for 54 cents a share, and that’s after Amazon warned of lower earnings in April when they reported first quarter sales. Wall Street had anticipated earnings of $322 million before the April reset; and Amazon told investors to look for […]