The Bookseller highlights cheerful remarks from Waterstone’s managing director James Daunt that their three-year turnaround plan is “on track” after the company’s results — already dated — through April 2013 were revealed. The silver lining is that sales only fell 3 percent, and their operating losses were also smaller. Daunt adds: “We put together a plan three years ago and we think we have delivered pretty much to the plan. These results are clearly a step forward but we have much more to do.” As you can see, sales at the chain are down 30 percent from their peak 5 years […]
Earnings Reports
Amazon Grows In Fourth Quarter, and Stock Slides On Lower Than Expected Sales and Earnings
Amazon reported fourth quarter sales after the close of the market on Thursday, with sales of $25.6 billion (up 20 percent) and net income of $239 million, or 51 cents a share. (That’s a profit margin of less than 1 percent.) Analysts were expecting higher sales and earnings, and the stock is down sharply in early after-hours trading but finished down $19 a share — after gaining about the same amount during regular trading, so a wash on the day. North American media sales in the quarter were $3.5 billion, up 21 percent, and international media sales were up only […]
Apple Nears 200 Million iPads Sold; Stock Falls After Setting Only Modest iPhone Sales Record
Apple reported fiscal first quarter sales after the close of the market on Monday, for the period ending December 28. With record sales of 26 million iPads in the quarter, they have now sold approximately 198 million tablets since the launch of the line in 2010. They sold a record number of iPhones as well, 51 million units, in the period — but investment analysts had convinced themselves the company would sell closer to 57 million iPhones. Which makes the report a “disappointment” for Wall Street, despite better than expected profit of $13.1 billion (but a softer forecast than analysts […]
Pearson Earnings Lowered On “Tough” US Education Market and Higher Restructuring Costs
Pearson provided a market update in advance of their February 28 full-year earnings report, telling investors that adjusted earnings per share will be lower than previously expected. Gross earnings are in line with their previous expectations, but restructuring costs of £170 million were £20 million higher than forecast in October, and cost savings from those changes were £10 million lower than planned. They note that “additional restructuring activity including an added warehouse closure announced in late 2013.” Pearson’s shares were down roughly 8 percent in early trading on the disappointing news. Total gross operating profit for 2013 will be approximately […]
Publishing Flat, Printing Rises At Courier
Both sales and income rose at Courier in their fiscal first quarter, ending December 28, with revenues of $73 million (up 12 percent) and earnings of $2.6 million (up 9 percent). The company “reported strong sales growth in all three of its principal book manufacturing markets of education, religious and specialty trade.” Their publishing division was flat at $9.1 million, while the operating loss was cut in half to $600,000, “largely driven by improvements at Dover, which broke even in the quarter.”
Quercus Shares Fall By Half On Unexpected “Significant Loss”
Quercus said in an interim trading update that “sales in the final quarter were lower than expected” and the company now expects “a significant trading loss for the financial year.” The news was a particular surprise since their half-year results reported in September showed a profit of £0.52 million and the company said “we have one of our strongest-ever publishing programs in the second half of this year.” As a result, the publisher’s shares have fallen by almost 50 percent, down 25 pence to 28.5 pence a share. Quercus said it “is in constructive discussions, which are on-going, with its […]