For the second straight quarter, Barnes & Noble beat Wall Street’s diminished expectations, with a reduced net loss of 4 cents a share (or $7 million) versus the predicted loss of 6 cents to 11 cents. EBITDA rose as well at $64.8 million, a 16 percent increase compared to a year ago, and while retail bookstore sales declined, those profits doubled. Though full holiday results won’t be reported until January 3, BN said Nook device sales “doubled over the four-day Black Friday weekend, across all channels” as compared to last year. The biggest likely concern–that we have pointed to before–is […]
Earnings Reports
Scholastic Cuts Profit Forecast Sharply, Citing Multiple Factors
After riding high on movie-driven sales of The Hunger Games, Scholastic has swung the other way, warning investors of multiple weaknesses in their business. In an announcement late Tuesday, Scholastic cited “lower curriculum product sales in its Educational Technology and Services segment,” as funds move to training in advance of the Common Core standards implementation–but also blamed on “a delay in purchasing decisions due to continued uncertainty regarding the federal budget.” Their book club business has also softened, both because of now “lower than anticipated US sales of The Hunger Games trilogy” and the impact of Hurricane Sandy. As result, […]
Books-A-Million Sales Rise Again in Third Quarter On Soft Store Comps; Courier Publishing Revenues Decline
Books-A-Million reported third quarter results Tuesday afternoon, and for the fourth straight quarter sales rose — thanks to the dozens of stores they added after Borders closed — but same-store sales continued their pattern of declines as well, down 3.6 percent. Sales of $104.7 million were up 11 percent compared to a year ago, and their net loss of $2.8 million for the quarter was an improvement from the $3.8 million in losses a year earlier. BAMM ceo and president Terence Finley said the third quarter results “reflect stabilization in our core book business and improvements in our toys & […]
People, Etc.
Rodale Books publisher Steve Perrine is leaving the company after more than 20 years along with Men’s Health editor-in-chief and general manager of Rodale Books and the Healthy Living Group Dave Zinczenko. The NY Post reports the two men “are said to be teaming up on a new venture” while ceo Maria Rodale told the paper Zinczenko’s departure “was a mutual decision, but we initiated the discussion.” Former literary agent at ICM Kate Lee has joined online publishing platform startup Medium as director of content in New York, where she will “be building a small team to help her.” They […]
Bookselling: That Bookstore in Blytheville Finds New Buyer; WHSmith High Street Comps Drop 5 Percent
Arkansas-based independent That Bookstore in Blytheville, which looked like it was going to close this week, has found a new buyer, Arkansas Business reports. Grant Hill told the paper he was “working with Southern Bancorp and the Greater Blytheville Area Chamber of Commerce to secure the $35,000 needed to buy the business” from owner Mary Gay Shipley, who put the store up for sale in February. Shipley confirmed the purchase, saying “We are getting to a contract and hope to be able to make an announcement soon.” In the UK, WHSmith said in a brief update that high street sales […]
Trade Publishing Rebounds at Lagardere; Bertelsmann Gains on Subdued Outlook
After a weak second quarter, trade publishing sales rebounded as expected for Lagardere Publishing, with revenues of 626 million euros for third quarter. That’s a 4.1 percent gain over sales of 601 million euros a year ago, when the company had a particular weak third quarter; sales are still below the same period from 2010, and only gained one-tenth of a percent after the effects of currency exchange. Results were boosted by the release of JK Rowling’s The Casual Vacancy right before the end of the quarter, raising trade sales by 7.3 percent in the US, 17 percent in the […]