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 […]
Earnings Reports
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 […]
Penguin Sales Up 9 Percent As Profit More than Doubles
Sales at Penguin for the first half of the year rose 9 percent, at 493 million pounds–as did sales across Pearson–and operating profit at the book publisher more than doubled, at 44 pounds (up from 21 million pounds a year ago). The company says the increase in margins is “the result of a strategy of targeted and sustained investment in publishing, digital change and reorganization.” They go on to cite “a series of organizational changes made in 2009 at Penguin UK and Dorling Kindersley to strengthen publishing, accelerate the transition to digital, reduce costs and shift design and production to […]
Amazon Earnings Fall Short and Market Hits Shares
Amazon reported second quarter sales after the close of the market yesterday of $6.54 billion, up 41% from a year ago and on target with expectations of $6.5 billion. But net income of $207 million, or 45 cents a share, was well short of analysts’ expectations and below the low end of the company’s own guidance. The consensus expectation was for 54 cents a share, and that’s after Amazon warned of lower earnings in April when they reported first quarter sales. Wall Street had anticipated earnings of $322 million before the April reset; and Amazon told investors to look for […]