Lagardere Publishing reported fourth quarter and full-year sales results on Thursday (and, in the European tradition, will not report earnings and complete 2018 details until March). Fourth quarter publishing sales of €645 million were €21 million higher than a year ago, with €10 million of that gain coming from recent acquisitions (Worthy Publishing, Kyle Cathie, Jessica Kingsley and Summersdale). But that was not enough to avoid a decline in full year sales, at €2.252 billion, €37 million lower than a year ago. Acquisitions added €30 million during the year, but foreign exchange — “mainly” a softening US dollar — reduced […]
Earnings Reports
Indigo Q3 Sales Flat But Earnings Down 50% During Challenging Period
Indigo reported third quarter revenue just below flat for the 13 weeks ending December 29, 2018, with sales of $426 (CA) million compared to $433.3 million for the same period last year, a decrease of 1.7 percent. Comparable superstore sales were flat, with small format store comps up 2.8 percent, as online sales declined by $1.5 million, to $75 million overall. The company billed the results as “satisfying” given the challenges during and leading into the period: A strike at Canada Post, a delayed renovation schedule, the closure of two low-performing stores, an increase in the minimum wage, plus an accounting […]
By the Actual Numbers, Sales and Profits Fell Slightly at Waterstones
As we’ve observed before, the UK press and the UK trade love the survival/revival story of bookselling chain Waterstones, regardless of what the numbers say. In the British tradition, the chain recently filed annual results for the fiscal year ending April 28, 2018 — prior to the sale of a controlling stake to Elliott Advisors — and the data shows another year of a small slide in both sales and earnings. Sales for the main group were £385.7 million, down £2.3 million, and all profits measures fell slightly as well. Operating profit was £24 million (down £.44 million), and after-tax […]
Amazon’s Stock Falls On Decelerating Growth
Amazon reported fourth quarter results Thursday afternoon, and after a run up before the report, shares fell more than 4 percent in the first 30 minutes of trading on Friday. The market’s sour reaction was based on tepid guidance: The company currently expects Q1 sales growth of between only 10 percent and 18 percent compared to Q1 2018. As well, cfo Brian Olsavsky told investors on yesterday’s conference call that investment was likely to increase compared to last year. Fourth quarter sales were $72.4 billion, a 20 percent increase over the same period last year, and net income increased to […]
People, Etc.
Kate Dresser has been promoted to senior editor at Gallery. Shawn Sarles has joined DK as a sales manager (after serving as a sales Analyst at Hachette Book Group); and Katie Schloss has joined the company as a brand manager. At the University of Chicago Press, Carrie Olivia Adams has been named promotions and marketing communications director of the books division. Richard Atkinson left his position as senior commissioning editor at Bloomsbury UK in November after 12 years with the company to focus on writing a family memoir. The Harlequin Creator Fund announced last November is now open for submissions. Former vp […]
Pearson’s January Trading Report: “There Is Still Much to Do”
Pearson issued their traditional January “trading report,” with highlight data in advance of a full annual report on February 22. It brings familiar news regarding 2018 performance: The company remains adept at cutting costs, but not yet at increasing revenue, as the declining US higher ed market continues to weigh on their prospects. US higher ed courseware is expected to be down 5 percent year on year, a greater decline than expected by analysts. Pearson expects that trend will continue through 2019 as the long digital transformation continues: “Expect US HECW revenue to be zero to down 5% as underlying […]