Books-A-Million posted its third quarter earnings for the period ending October 29, with net sales dropping 8.1 percent to $94.4 million (from $102.7 million a year ago) and store comps falling 7.7 percent from the same time last year. The company suffered an operating loss of $8.1 million, compared to a loss of $2.9 million a year ago, and a net loss of $4 million, or 25 cents per diluted share. The losses included a one-time charge related to the closing of 21 underperforming stores and scheduled opening of 41 new locations throughout the month of November. The company now […]
Earnings Reports
Hastings Losses Widen As It Ventures Into Digital Territory
Hastings Entertainment reported results for its third quarter early Monday morning and the losses continue to mount. The company reported a net loss of $5.5 million (or 65 cents a share), considerably larger than the $3.1 million loss reported a year ago. Overall book comps decreased 4.5 percent for the quarter, affected by “a weaker slate of titles released during the current quarter and the increasing popularity of e-readers” as well as increased promotional pricing. Unlike previous years, Hastings did not break out specific comps for new versus used book sales for the quarter. During the third quarter Hastings also […]
Trading Updates from Bertelsmann and WH Smith
Today is Bertelsmann’s turn for a brief, European-style third quarter trading update, with no breakouts by division. If you strip out the recent quarter by itself, sales of 3.575 billion euros were up 3%, and operating EBIT of 355 million euros was up 36 million euros, or 11 percent. For the year-so-far, sales are up slightly, and operating EBIT is down a little, with both of those categories performing better in the third quarter than earlier in the year. Release In the UK, WH Smith said in a brief update of their own that High Store sales declined 5 percent […]
Hachette Book Sales Fall 8 Percent In US; 10 Percent in UK
Lagardere reported third-quarter results, with revenues at their book publishing division falling 5.2 percent overall (and 2.5 percent on a like-for-like basis), down 33 million euros to 601 million euros for the period. Sales at Hachette Book Group in the US fell 8 percent and sales at Hachette UK declined 10 percent, “due mainly to the impact of e-books (which result in lower sales but higher margins), as well as the difficulties of certain retailers” liquidating. For the full nine months so far of the current fiscal year, ebooks comprised 21 percent of sales in the US and 9 percent […]
Sales and Profits Up For Simon & Schuster in Third Quarter
CBS reported second quarter earnings after the close of the market on Tuesday, with Simon & Schuster recording a 1 percent increase in sales, up $2 million to $220 million, and a sharper increase in profits. Adjusted OIBDA rose $6 million (or 19 percent) to $38 million, and adjusted operating income also rose $6 million, at $30 million. The company said that “strong growth in the sale of more profitable digital content was offset by lower print book sales,” indicating that improved profits were “driven by lower direct operating costs, including expense decreases resulting from the significant increase in more […]
Penguin Earnings Stay Flat in Q3
Pearson provided a third-quarter trading statement that, per the British tradition, is scant on data. Overall sales for the fiscal year so far are up by 6 percent and operating profit increased by 13 percent on the basis of “strong competitive performances in generally weak market conditions, benefiting from premium content and services, digital innovation and presence in developing economies.” At Penguin “sales were level with 2010” which is probably comparable to where they were when they reported more extensive results for the first half of the fiscal year. (Then, “underlying” sales were flat, and margins were up.) The publisher […]