Waterstones filed their annual report for the fiscal year ending a year ago, as of April 24, 2021, revealing a substantial decline in sales. The company reached sales of only £231 million in the year, down £135 million (or 38.5 percent) from £376 million in the prior year. Operating profit was £13 million (versus £30 million the year before) and profit before tax was £4.17 million (versus £23 million the year before). Those positive margins seem to have come from substantial government support — roughly £41 million during the reported period — and a reduction in force, with the average […]
Earnings Reports
Backlist Lifted Penguin Random House Sales In 2021
Bertelsmann reported financial results for 2021, with Penguin Random House showing increased revenues and operating results “thanks to numerous successful new releases, robust backlist sales and continued high demand for digital audiobooks.” Sales were €4.03 billion, up 6 percent from €3.802 in 2020. Operating EBITDA was €755 million compared to €691 million, a 9.2 percent increase. The company noted, “In addition to the recovery of the advertising-financed businesses, the positive performance of the book publishing and services businesses was a key factor in this strong revenue growth.” US-based sales were €2.275 billion, up €67 million. (That growth is made smaller […]
Bloomsbury Increases Full-Year Guidance Again
Bloomsbury issued a second increase to their full year guidance for the year ended February 28 after a strong final month, now expecting sales of £212.5 million and profit before taxation and highlighted items of £22.3 million. The results are due predominantly to the newest title from Sarah J. Maas, which “instantly became a number one global bestseller” in February. The Bloomsbury Digital Resources division also exceeded the company’s target, with £15 million of sales and £5 million in profit in the year. The company will release their preliminary results in May. Additionally, John Bason will join the board as a […]
Scholastic Fairs Regain Some Ground
Scholastic reported earnings for the fiscal third quarter ended February 28, with sales of $345 million, up 24 percent or $67 million from last year, though still behind the $373 million recorded two years ago. The recovery was driven predominantly by their book fairs, with sales back up to $76 million, versus just $27 million last year, and $100 million in 2020. They held approximately 70 percent of the pre-pandemic number of fairs. The seasonal operating loss excluding one-time items was $(16.7) million, compared to a loss of $(11.9) million a year ago, due to higher labor costs and, in […]
US Gains Drive Quarto Sales Up 19 Percent in 2021
Quarto reported earnings for the year ended December 31, 2021, with sales of $151.5 million, up from $127 million in 2020, a 19 percent increase. US sales of $93.4 million were up by $17 million. UK sales were $20.2 million, up $2 million, and non-UK sales in Europe were $21.2 million, up from $17.4 million last year. The company said a release the gains were due to “Clear focus on maximizing the group’s core strengths, retaining a disciplined business model, further debt reduction and developing future growth opportunities.” Operating profit was $16 million, up from $9.3 million. The company lists […]
BNED Reduces Earnings Expectations; Wiley Reports “Strong” Earnings
Barnes & Noble Education reported third quarter earnings for the period ended January 29, with sales of $403 million, down 2 percent from $412 million last year. Net loss was $(36.8) million, down from $(48.3) million last year, and adjusted EBITDA was $(13.1) million, compared to $(20.8) million last year. The Omicron surge caused campuses to delay the start of spring semester classes and/or hold them virtually, leading to lost or delayed sales in the quarter. That led to a reduction in guidance as well: For fiscal 2023 the company expects adjusted EBITDA “to be lower than pre-COVID levels, as […]