ViacomCBS reported third quarter sales on Friday, with publisher Simon & Schuster reporting what looks to be their biggest-ever third quarter topline: Sales of $279 million were up 29 percent from $217 million a year ago. (The previous best third quarter sales mark looks to have been two years ago, the last time they published Bob Woodward, when sales were $240 million.) Earnings were solid but only gained 5 percent, due to “higher author expenses and costs associated with the mix of titles” (including printing and royalties for all those extra sales). OIBDA was $58 million, compared to $55 million […]
Earnings Reports
Harper Rebounds As Well with Good First Quarter
News Corp. reported earnings for their fiscal first quarter, ending September 30, on Thursday afternoon, with publisher HarperCollins showing growth after five straight quarters of sales declines. Sales of $458 million were up 13 percent versus $405 million a year ago. ($4 million of the gain was due to currency exchange.) EBITDA was back to the level from two years ago, at $71 million, up from $49 million a year ago. News Corp. said the publishers’ “strong results reflected the importance of savvy commissioning, combined with sensible cost control.” The growth was attributed to new releases from the general books […]
Lagardere Publishing Sales Up 6 Percent in Q3
Lagardere reported third quarter results, with publishing sales of €704 million, up from €663 million a year ago. That includes €12 million in sales from acquisitions, and a negative foreign exchange impact of €(11) million. “The sharp rebound in Lagardère Publishing sales that had been observed in June 2020 as lockdown measures were eased continued throughout the third quarter, albeit at a slightly more moderate pace,” said the release. Sales were up 21 percent in June — then up 4 percent in July and August, and up 10 percent in September. Even with the continuing rebound, however, publishing sales are […]
Struggling Houghton Mifflin Harcourt to Explore Selling Trade Division, As Archer Departs
After firing another 525 people at the beginning of October, Houghton Mifflin Harcourt reported terrible third quarter earnings and said it will “explore the potential sale of HMH Books & Media” to generate cash. The corporate-speak says a sale will “build on the company’s October 1 restructuring to align its cost structure to its digital-first, connected strategy, and create a pure-play learning technology company.” Centerview Partners will handle the shopping of the trade division, which will be an appealing size acquisition to a number of players, particularly as Simon & Schuster is likely to make one of the biggest publishers […]
Indigo Reports Second Quarter Growth, As Online Gains Outweigh Store Declines
Canada’s Indigo Books reported sales for the fiscal 2021 second quarter ended September 26, at $205.3 million (CA), up from $203.4 million in the same period last year, an increase of $1.9 million. Net loss was $(17.5) million, slightly improved from a loss of $(20.5) million last year. The key was that pandemic-driven online sales remained more than twice as high as they were a year ago, at $63 million — up 113 percent over the $29.5 million a year ago — which made up for the $32.7 million (19.3 percent) decline at their physical stores, which registered $136.8 million […]
People, Etc.
Emma Berry joins Basic Books and Seal Press on November 16 as senior editor. Most recently, she was editor at Crown. Karen Edwards has been promoted to executive editor for the Workman imprint. John Passineau has joined the Workman children’s team as a senior designer. Previously, he was a freelance designer. Rebecca Davis has been promoted to editorial director of Boyds Mills Press/Wordsong. Carolyn P. Yoder becomes executive editor of Calkins Creek. Daniella Cohen has been promoted to associate agent at Aevitas Creative Management. Jordan Koluch has been promoted to copy chief at Catapult, Counterpoint, Soft Skull Press. On the Simon […]