Lagardere reported second quarter and half-year 2020 results on Thursday afternoon. Second quarter publishing sales were €514 million, down €70 million from a year ago (a 12 percent decline), with trends pointing up sharply in June. Month by month, the company said sales fell 39 percent in April (at €109 million); were 22 percent lower…
Earnings Reports
Sales Down 17 Percent at Quarto
At Quarto, for the first six months of 2020, sales fell $9.5 million to $46.9 million, down 17 percent from the same period a year ago. The adjusted operating loss doubled, to $(1.8) million, though the company’s pre-tax loss was about even, given lower interest costs following their recapitalization in January. Chief executive C.K. Lau…
Pearson Records Significant Operating Loss
Pearson released results for the six-months ending June 30 on Friday morning, with COVID-related impact weighing heavily on their sales. The company reported sales of £1.49 billion, down from £1.83 billion last year, a decline of 19 percent largely due to test center and school closures affecting its global assessment and international segments. North American…
Scholastic’s Sales Fell 40% in Q4, Even as Trade Books Surged
Scholastic reported fourth quarter and full-year results for the period ending May 31 on Thursday afternoon. As expected, school closures due to coronavirus weighed heavily on their performance for the quarter, with overall sales of $284 million, down 40 percent compared to $471 million last year. Trade sales, however, surged to $80.4 million from $55.4…
Title Mix Helps Bloomsbury to Sales Gain
Bloomsbury reported earnings for the four month period ending June 30, with trade sales of £31.5 million, up from £24.6 million — an unexpected increase of 28 percent over the prior year period, despite the disruption caused by COVID. Print revenues were 9 percent above last year’s sales, and digital revenues grew by 63 percent…
Barnes & Noble Education Reports Continuing Decline, Sharpened by COVID
Barnes & Noble Education announced fourth quarter earnings, with sales of $256.9 million, down from $334.4 last period, a decline of 23.2 percent. Retail, by far BNED’s largest segment, was heavily hit as COVID shut down campuses nationwide, while sales in the much smaller wholesale and digital student solutions increased. Net loss was $(40.3) million,…