In a brief trading update, Bloomsbury reported that sales are “comfortably ahead” of analysts’ expectations for their fiscal year, ending February 29, and profits are running “materially ahead” of projections. Chief executive Nigel Newton says those results are being “driven by the continued phenomenal demand for fantasy fiction,” and in particular by Sarah J. Maas’s 15 titles. The company compares its results to expectations of sales for the full year of £274 million and profit before taxation and highlighted items of £32.9 million. Last year set records for the company in both sales and earnings, with revenue of £264 million […]
Earnings Reports
Barnes & Noble Education Ekes Out Gains
The company’s fiscal second quarter report oozes with high fives as the company celebrates what they term an increase in sales, up by what we technically call a “smidgen,” at $610.4 million, compared to adjusted sales of $608.6 million a year ago. (Their actual sales a year ago were $617.1 million — which includes $8.5 million from their Digital Student Solutions segment, which was sold in May.) Net income did rise, at $24.2 million, up $2 million from a year ago (with income from continuing operations up less, gaining about $700,000). Comparable store course material sales rose by 5.8 percent, […]
Sales and Earnings Fall at Wiley As It Reorganizes
On Wednesday morning Wiley reported fiscal second quarter results, showing declines in sales and earnings, in line with their previously announced reorganization plans. Sales of $493 million were down 4 percent from $515 million a year, and operating income of $46 million was down 19 percent from $57 million. They took impairment charges of $52 million against the various businesses that have been up for sale, and recording restructuring charges against layoffs. PL had reported a New Jersey WARN notice regarding the termination of 103 people between mid-November and mid-January, and a spokesperson confirmed that was just part of “a […]
Harper’s Rebound Begins
After what HarperCollins CEO Brian Murray had called “a tough quarter, and a tough year,” the publisher has begun a turnaround in results. Fiscal first quarter sales were $525 million, up $38 million from $487 million a year ago (but still behind the $546 million they recorded in 2021). Margins rebounded as well, with EBITDA of $65 million — similarly up from $39 million a year ago, but still behind $85 million in 2021. The company cited “lower manufacturing costs, primarily due to product mix, and lower freight and distribution costs as supply chain challenges and inventory and inflationary pressures […]
Indigo’s Q2 Falls Below Last Year’s Strong Result
Indigo released results for the second quarter of their fiscal year, ended September 30, reporting $207 million in sales, down 12 percent from the previous year, and a loss in adjusted EBITDA of $(13.8) million, compared to $(10.6) million. Net loss during the quarter was $(22.4) million, compared to a net loss of $(15.9) million in the previous year. The company cites consumer “price sensitivity” as a reason for the drop—because people came out for discounts during promotional events—and a stark comparison to last year, which was the highest ever in merchandise sales. The company also launched their new ecommerce […]
WH Smith High Street Sales Fall Slightly
WH Smith announced preliminary results for the year, ended August 31, with sales up 28 percent to £1.79 billion. Trading profit, driven by the Travel division, was up £74 million to £164 million, and group profit before tax was £110 million, compared to £63 million in 2022 High street sales were £469 million, down from £473 million, with trading profit falling £2 million to £43 million, “in line with expectations.” The company closed 13 High Street stores in the period, bringing their total to 514. They say they are focused on efficiency and cost management, with savings of £15 million […]