Books-A-Million reported sales for the nine-week period ending January 3 of $127.5 million, down 2.5 percent from a year ago, and a decline of 5.6 percent on a comparable-store basis. Which actually makes them the top performer among the three biggest book chains. CEO Sandra Cochran says, “Given the challenging retail environment, we were pleased that we could record an improvement in the sales trend we saw during the third quarter. Holiday sales came later than ever this year, reflecting a cautious and price-sensitive consumer. The success of Stephanie Meyer’s Twilight series was the big story in books this season. […]
Earnings Reports
Barnes & Noble Holiday Comps Down Only 7.7 Percent
Sales for the nine-week holiday period ending January 3 declined 7.7 percent on a same-store basis at Barnes & Noble, and fell 5.2 percent overall compared to a year ago. With store sales of $1.1 billion, BN says they “experienced diminished traffic, and as a result, diminished sales, due to the unprecedented fall-off of retail shopping during the last quarter of the year.” Like Borders, they say holiday sales improved towards the end: “After a slow start to the holiday season, our store performance improved and we were able to post comparable store sales increases during the last two weeks […]
Scholastic's Sales Hold Up As Earnings Fall
In Scholastic’s [SCHL] fiscal second quarter, the company reported sales of $661.6 million, down $27 million overall (or a little under 4 percent), though just a 1 percent decline in revenue from continuing operations. But adjusted earnings were 40 cents a share lower than analysts were expecting and the company revised its earnings guidance from continuing operations for the fiscal year downward to $1.20 to $1.50 per share from $1.75 to $2.10 per share. The stock was trading significantly lower this morning as a result. They also announced a reduction in their spending plan for the balance of fiscal 2009 […]
Sales Down at Waterstone's–And Getting Worse
HMV reported sales for the first six months of their fiscal year (ending October 25), showing revenue of 235.1 million pounds at their Waterstone’s unit declined 3.8 percent overall, and 3.1 percent on a same-store sales basis. The company notes that without the impact of last year’s release of Harry Potter and the Deathly Hallows, same-store sales declined just 1.4 percent. The bookseller showed an operating loss of 9.3 million pounds for the period, 4.5 percent more than last year’s loss of 8.9 million pounds. The company says increases in costs included 1.5 million pounds towards their supply chain overhaul. […]
Academic and Educational Books Keep Wiley in the Black, Even as Trade Falls 12%
Wiley reported sales of $432 million for their fiscal second quarter of fiscal year 2009, up 2 percent from a year ago, with earnings of .67 cents a share, up 14 percent. CEO William Pesce reports that “we generated solid top-line growth in our global STMS and higher education businesses. Professional/Trade revenue was down, reflecting the combined effect of weak retail sales and the comparison to last year’s strong first half.” Because of that diversity, the company remains “cautiously optimistic that full-year revenue growth will be in the mid-single digits, excluding the unfavorable effect of foreign exchange.” But with almost […]
Borders Comps Plunge; Pershing May Lend More
Borders has confirmed the obvious: “management is no longer contemplating a transaction” to sell the entire company.” But it is “in discussions with Pershing Square regarding an alternative financing transaction,” and still has the right to sell the Paperchase chain to Pershing Square for $65 million. Same-store sales for the third quarter suffered more at Borders than at the other big chains, falling 12.8 percent at their superstores, which had $548.4 million sales, with Waldenbooks comps falling less, by 7.7 percent, for sales of $91.5 million in total. Their web site sales were $11.9 million, “which is below management expectations […]