On Wednesday morning Wiley reported fiscal second quarter results, showing declines in sales and earnings, in line with their previously announced reorganization plans. Sales of $493 million were down 4 percent from $515 million a year, and operating income of $46 million was down 19 percent from $57 million. They took impairment charges of $52 million against the various businesses that have been up for sale, and recording restructuring charges against layoffs. PL had reported a New Jersey WARN notice regarding the termination of 103 people between mid-November and mid-January, and a spokesperson confirmed that was just part of “a […]
Earnings Reports
Harper’s Rebound Begins
After what HarperCollins CEO Brian Murray had called “a tough quarter, and a tough year,” the publisher has begun a turnaround in results. Fiscal first quarter sales were $525 million, up $38 million from $487 million a year ago (but still behind the $546 million they recorded in 2021). Margins rebounded as well, with EBITDA of $65 million — similarly up from $39 million a year ago, but still behind $85 million in 2021. The company cited “lower manufacturing costs, primarily due to product mix, and lower freight and distribution costs as supply chain challenges and inventory and inflationary pressures […]
Indigo’s Q2 Falls Below Last Year’s Strong Result
Indigo released results for the second quarter of their fiscal year, ended September 30, reporting $207 million in sales, down 12 percent from the previous year, and a loss in adjusted EBITDA of $(13.8) million, compared to $(10.6) million. Net loss during the quarter was $(22.4) million, compared to a net loss of $(15.9) million in the previous year. The company cites consumer “price sensitivity” as a reason for the drop—because people came out for discounts during promotional events—and a stark comparison to last year, which was the highest ever in merchandise sales. The company also launched their new ecommerce […]
WH Smith High Street Sales Fall Slightly
WH Smith announced preliminary results for the year, ended August 31, with sales up 28 percent to £1.79 billion. Trading profit, driven by the Travel division, was up £74 million to £164 million, and group profit before tax was £110 million, compared to £63 million in 2022 High street sales were £469 million, down from £473 million, with trading profit falling £2 million to £43 million, “in line with expectations.” The company closed 13 High Street stores in the period, bringing their total to 514. They say they are focused on efficiency and cost management, with savings of £15 million […]
Bertelsmann Sales Down Slightly in Q3
Bertelsmann briefly announced results a third quarter sales update, with revenues of €4.9 billion ($4.9 billion), compared to €5.1 billion in the same quarter last year. The company expects a “moderate” increase in full-year sales with a stable operating profit and a slight decline in EBITDA, following the sale of their shares in Majorel. As usual, there are very few divisional specifics. Looking at the first nine months together, they highlight Penguin Random House’s success from early in the year, with Prince Harry’s SPARE still their top-selling title. The only third quarter releases mentioned are picture books. “Despite an overall […]
Simon & Schuster Sales Fall From Peak, “But We’re Still Flying High”
Simon & Schuster released public results for the last time as a unit of Paramount Global, covering their third quarter. The publisher’s remarkable streak of increased (or flat, as of the last report) sales came to an end, with revenue of $307 million — down $46 million (or 13 percent) from the same period a year ago. (That’s also below sales of $321 million in Q3 2021.) Operating income was down sharply as well, though still a robust margin, at $60 million, compared to $93 million a year ago.) The last time the publisher reported a sales decline was back […]