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 […]
Earnings Reports
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 […]
Sales Rise at Harper As Profits Lag
HarperCollins has joined Simon & Schuster and Penguin in reporting increased sales for their most recent quarter, ending June 30, at $302 million, up over 8 percent from $278 million a year ago. Profits are still lagging, however, with an operating loss of $1 million–matching the loss from this time a year ago (though they were up $3 million prior to depreciation and amortization). For the full fiscal year, Harper recorded sales of $1.269 billion, recovering 11 percent after a poor fiscal 2009, with operating income of $88 million–hardly a stellar performance, but much improved from just $17 million in […]
Sales and Profits Rise at Simon & Schuster
Sales at Simon & Schuster were up 4.5 percent in their fiscal second quarter, ending June 30, at $189.7 million an $8.3 million increase from a year ago. Adjusted OIBDA was up more, by 65%, at $16.9 million, compared to $10.3 million a year ago, and adjusted operating income rose to $15.2 million. The company cited “growth in digital content sales and the strength of best-selling titles in the second quarter of 2010, including Spoken from the Heart by Laura Bush and Women Food and God by Geneen Roth.” Though the sales gains may seem relatively small, it’s the largest […]
Profits Rise at Harlequin
Harlequin’s parent company Torstar reported second quarter sales of $124.1 million (CA), down $6.2 million, and operating profit of $20.4 million, up $700,000 from a year ago. Calling it “another strong performance at Harlequin,” they say that sales rose excluding the rise in the Canadian dollar. Looking forward, they expect a “relatively stable year” at Harlequin, “including the negative earnings impact of foreign exchange. The growth in the North America digital sales and the acquisition of the other half of the German joint venture in April 2010 will offset the expected decline from the Softbank contribution, lower North America Retail […]