Sales at Canada’s dominant bookseller Indigo rose 1.6 percent in the first quarter at $193.6 million (Canadian), with same-store superstore sales up 1.4 percent and same-store sales at their smaller-format stores up 0.8 percent. Online sales continue to decline, though, down 9.1 percent to $19.1 million, and the company says they have “eliminated certain non profitable business.” Their net loss was worse, at $2.3 million compared to a $1.2 million loss a year ago. CEO Heather Reisman says the “drop in bottom line results reflects our increased operating investment this year in both Pistachio and Shortcovers.” (Pistacho is “an eco-friendly […]
Earnings Reports
International Earnings: Mondadori Down More than 20%; Restructuring To Come
Sales at Italy’s book and magazine giant Mondadori fell over 21 percent in the first six months of the year, to 730 million euros (from 930 million a year ago). Net income fell further still, down 80 percent to 7.3 million euros (with EBITDA of 40 million euros, down 61.5 percent). The company also carries 474 million euros of debt. Despite the drops, Mondadori’s results were actually ahead of analysts’ expectations. Reuters says “it gave no clear indication about much-awaited cost cuts but said it expected a ‘strong’ restructuring in the coming months.” The company called the year “difficult and […]
Results Rise at Harlequin on Weak Canadian Dollar, But Retail Sales Decline
In a mixed second quarter report, Harlequin parent Torstar said book sales rose 8.7 percent to $249 million (CA), though the increase was due almost entirely to the weaker Canadian dollar. Currency exchange comprised most of the profit gains as well, up $2.4 million at $19.7 million for the period. “Underlying results were up in the overseas and North America direct-to-consumer divisions and down in North America retail.” And the company expects weaker results in the second half of their year. They expect to grow “but not at the rate realized in the first half.” The company notes: “Harlequin continues […]
Sales Rise at Penguin on Currency; Profits Decline, But Education Powers Pearson Gain
Sales rose 22 percent at Pearson for the first half of their fiscal year, at 2.398 billion pounds, with earnings of 28 million pounds, compared to a loss of 62 million pounds this time a year ago. Education, which comprises over 60 percent of the total revenues, was up 29 percent for the period. Penguin sales of 452 million pounds were up 11 percent from a year ago, or 44 million pounds, though operating profit for the division fell 19 percent to 21 million pounds, down from 26 million pounds a year ago. The sales gain was due entirely to […]
Amazon Media Sales Stop Growing
As Amazon’s sales keep growing, the company is taking a hit on the income side. For their second quarter, sales rose 14 percent, to $4.65 billion, but operating income feel 27 percent at $159 million and net income fell 10 percent to $142 million. Among the hits to earnings were $51 million in their legal settlement with Toys R Us, and $30 million blamed on foreign exchange (but they had a $53 million non-cash gain from the sale of European dvd rental assets). While those sales grew overall, in the segment we all care about–media–the decelaration was dramatic. North American […]
Lagardere's Publishing Continues to Grow, With a "Slowdown" In June
Lagardere released a brief summary of sales (but not profits) for the first half of their fiscal year. The publishing division recorded revenues of 546 million euros for the quarter, up 10.4 percent compared to a year ago, with sales for the first half of the year at 1.009 billion euros. “The success of the Stephenie Meyer saga was unabated,” they report, though there was a “slowdown in growth in the month of June due to robust sales in June 2008 when two novels by James Patterson were published.” Similarly, comps for the second half of the year will have […]