We heard back from Lagardere’s head of communications and our question about their third quarter earnings report has been cleared up: a typo mislabelled the year in one column of the publishing unit’s results. For the just-reported third quarter, Lagardere Publishing recorded sales of 655 million euros, which was indeed a slight increase of just over 1 percent from 648 million euros a year ago.
Earnings Reports
Currency Exchange Holds Lagardere Back
Lagardere Publishing reported third quarter sales ending September 30 of 637 euros, down by 1.6 percent compared to last year in absolute terms. (You’ll notice our report likely diverges from others, since the official company release charts results for the nine months of the fiscal year and concludes they are still rising; we actually break out the calculator to look at quarterly numbers). The company does not usually quantify currency effects, but this time around the impact was so significant they couldn’t help themselves, noting that “because Lagardere Publishing generates over 40 percent of its revenues in the dollar and […]
S&S Rises, Even as CBS Battles
Simon & Schuster broke from three straight quarters of sales and profit declines with a strong third-quarter showing. Sales of $225 million were up 5 percent from $214 million a year ago (though they are still down 5 percent overall thus far in the fiscal year). OIBDA and operating income were both up 8 percent compared to a year ago, at $25.8 million and $23.4 million respectively. The report credits “the success of best-selling titles in the third quarter of 2008, including The War Within by Bob Woodward and Real Life: Preparing For the 7 Most Challenging Days of Your […]
Harlequin Holds On
With Canada’s Torstar reporting results for the their third quarter, their Harlequin unit “had a solid quarter and remains on course for a good year of growth,” even as the economy weakens. The company says “we remain concerned that the US economy could have a negative impact on Harlequin’s results, but to date there is no evidence of this.” In part, the weaker Canadian dollar makes US sales more valuable, though in an odd dichotomy, the company credits foreign exchange for helping to lift sales this period, yet blames FX for reduced profits. Sales for the quarter were $118 million […]
More Reports: Indigo Holds Steady
At Canada’s dominant retailer Indigo, sales for the second quarter fell 2 percent to $205 million (CA), with net earnings “down slightly” at $3.2 million. CEO Heather Reisman says “we were pleased with the bottom line results given today’s challenging economic climate.” Same-store sales rose 2 percent at the Indigo and Chapters superstores, and 7.4 percent at the small-format Coles stores. But online sales decreased 19.8 percent to $21.1 million, attributed entirely (and then some) to the comparison to last year’s numbers for the release of the final Harry Potter Book.Release
Amazon's Quarter Is Fine, But They're Braced for a Grim Finale
Amazon.com held up well enough in their fiscal third quarter, which ended September 30, recording another healthy increase in sales of 31 percent to $4.26 billion (with an $80 million boost due to favorable currency exchange). Operating income rose 26 percent to $154 million. The sales number was in line with analysts’ expectations but the income figure fell well short. Of greater concern to markets is Amazon’s reduced guidance for the fourth quarter. Sales are projected to fall between $6 billion and $7 billion (an increase of between 6 percent and 23 percent), and operating income is projected to range […]