Indigo released second quarter results for the period ended September 29. Revenue was $216.3 million (CA), a decrease of $8.3 million, “driven by the closure of a few low performing stores and renovations in 12 stores as the Company continues to transform its retail operations.” They closed two stores in the quarter, one of which…
Earnings Reports
Better Profits, Stock Drop at Amazon
Amazon reported third quarter results on Thursday afternoon, with much better than expected net income of $2.88 billion, on sales of $55.6 billion (up 20 percent). But the stock is down on the news — albeit after rising 7 percent during the day on Thursday — declining 8.5 percent or about $150 a share in…
Bloomsbury Shows Modest Six Month Gains, Lead by Adult Trade
Bloomsbury announced half-year results for the period ended August 31, 2018, with overall revenue up 4.4 percent to £75.3 million, an increase of £3.2 million over the same period last year. Adjusted profit before tax — which excludes a major increase in exceptional costs in the period — was modest at £2.9 million, though up…
Corporate: Pearson Gains On Steady Quarter, Scribd Pairs with NYT
Pearson provided a trading update on the first nine months of 2018. Total revenues were flat, with a 3 percent decline in US higher education courseware offsetting growth in the rest of the company. The company attributed some of the revenue decline to delays caused by the implementation of new enterprise software in the US,…
WH Smith Has Stable Profit, Still Declining Sales in High Street
UK book retailer WH Smith announced preliminary results for the year ended August 31, 2018. Overall, revenue increased 2 percent, at £1.262 million this year, with group trading profit up 3 percent, to £163 million, both driven by their travel division. Revenues from the High Street bookstores declined 3 percent, on both a like-for-like and…
So Amazon Will Respond to Public Pressure, Raising US Wages to $15 An Hour
After Amazon initially met accusations that they pay workers too little from Senator Bernie Sanders and others with pushback, the company announced a more productive course: “We listened to our critics, thought hard about what we wanted to do, and decided we want to lead,” ceo Jeff Bezos said in their press release. “We’re excited…