Overall sales for the first quarter at Amazon.com increased by 18 percent to $4.89 billion, as operating income increased 23 percent to $244 million in the first quarter, and net income rose 24 percent to $177 million. But the growth was driven heavily by electronics, as the media segment–which includes books and digital downloads among other items–continues to lag the company’s overall performance. North American media sales of $1.305 billion were up 8 percent compared to a year (similar to the rise in the previous quarter), while international media sales of $1.418 billion were up just six percent, held back […]
Earnings Reports
Sales Off at WH Smith; New Betrams Owner Reports
High-street sales fell 6 percent at WH Smith in the first half of their fiscal year, at 522 million pounds, and profits of 47 million pounds declined by the same percentage. Same-store book sales declined less, at 3 percent, and the company says “we saw further good share performance versus the general high street with strong market shares in kids books…and celebrity autobiographies.” They add that “we increased the focus on kids books with major range reviews leading to wider ranges being introduced in areas such as picture books.” Smith release The new owners of UK wholesaler Bertrams also reported […]
Bookstore Burrowings
So one of my wonkier habits is scrolling through the lengthy SEC filings of major public companies in the book industry, exacerbated by recent annual reports from Barnes & Noble, Borders, and Books-a-Million. (The detailed filings often share interesting tidbits we don’t get to in the basic earnings releases and ensuing conference calls.) Among the things we’ve learned in the past couple of weeks: Borders sold just over $2 billion worth of books last, out of total revenue of $3.242 billion, or a little under 62 percent of sales. Books-a-Million, on the other hand, says that 83 percent of their […]
Courier Takes $15.6 Million Charge Against Dover
In reporting second quarter earnings, Courier took a non-cash $15.6 million impairment charge related to performance at their Dover Publications unit, representing 100 percent of Dover’s goodwill. The company cites “the recent reduction in valuation multiples in the publishing industry and the US government’s projection of continued weakness in consumer spending for several quarters to come” in their “assessment of potential impairment in Dover’s business.” Sales at the book publishing division were $12.1 million for the quarter, down 28 percent from a year ago, with an operating loss of $556,000. But CEO James F. Conway III says, “After a long […]
Borders' Sales and Margins Continue to Fall, But At Least their Debt Is Smaller
Fourth quarter sales at Borders were $1.1 billion overall, down 12.9 percent from a year ago. The superstores comprised $816.1 million, down 15.3 percent on a same-store sales basis (and book comps were down 11.7 percent), and 14.8 percent overall. Waldenbooks accounted for $195.6 million in sales, down a more modest 4.7 percent on a same-store basis, and down 14.3 percent overall. International sales added $43.2 million, and Borders.com did $26.4 million in business. The company had net writedowns totaling $34.9 million in the quarter. Goodwill impairment was the largest charge, followed by store closures and severance costs. Adjusted income […]
Bloomsbury Says It Had A "Strong Performance"
Overall results were down sharply for fiscal 2008 at Bloomsbury due to comparisons to the launch of Harry Potter and the Deathly Hallows, with sales falling by more than a third to 99.95 million pounds, with pre-tax profits of 11.63 million pounds. But the company offers itself long and hearty congratulations as “it re-balances its business in the wake of the Harry Potter phenomenon and of the demands of a global recession.” Units in both the US and Germany improved during the year, with US sales up 29.4 percent to 17.32 million (essentially all due to the decline of the […]