At Indigo, Q2 sales for the period ending September 28, 2019, declined to $203.4 million (CA) compared to $216.3 million for the same period last year, a decrease of 6 percent. The operating loss was ($20.455 million) from ($19.125 million) last Q2. On the earnings news, the stock was down slightly to $4.30 a share at 11 a.m., down about 2 percent from close. Comparable retail superstore sales for the quarter decreased 7.4 percent, while small format stores decreased 5.7 percent. As for product mix, print gained slightly as a percentage of sales, moving to 59.5 percent of sales, from […]
Earnings Reports
Lagardere Publishing Gains In France, Just Below Flat In US and UK
Lagardere reported third quarter results November 7, with book publishing sales of €663 million, up from €607 million. The gains included €9 million from the strengthening US dollar and €7 million from the recent Gigamic and Short Books acquisitions, but results were driven mostly by a 12.2 percent gain at the big French publishing division, which enjoyed “a sharp uptick in education” on high school curriculum reform and “robust momentum for mobile games.” At HBG USA sales were just below flat, down 0.3 percent, held back by the Nashville division and a weaker comp at Perseus, where sales of Jen […]
HMH Trade Sales Down for Q3, While Company Seeks New Lenders
On the heels of announcing significant layoffs and news of improved sales and billings for the company overall, HMH reported full results for Q3. In its trade, or Books & Media business, both sales and EBITDA were down for the quarter, largely due to $16 million received a year ago from re-licensing some George Orwell titles for paperback. Books & Media sales for the quarter were $48.1 million, down from $66.6 million in 2018, with segment adjusted EBITDA of $8.3 million, down from $15.5 million. Net income was $4.9 million, versus $12.1 a year ago. Though the company expects a […]
Quad Will Exit the Book Printing Business, As Stock Plunges On Poor Results
The big news in Quad’s third quarter earnings release was ceo Joel Quadracci’s announcement: “We have made the strategic decision to divest our book business.” Having cancelled their planned merger with the leading book printer LSC Communications, Quad has apparently chosen not to engage in what the Department of Justice had called their “intense rivalry.” Quadracci claims, “We are selling the business to ensure continued capacity for our clients and sustainable employment for our employees, and an ongoing presence in the communities where the book plants are located.” Their book printing business generates a little over $200 million a year, […]
Children’s Sales Fall at Bloomsbury In Quiet First Half
Bloomsbury reported earnings for the six months ending August 31, with children’s trade dragging down sales and earnings, accompanied by good results in the smaller academic and professional publishing business. Overall, sales were £71.3 million, down from £75.3 million, and profit before taxes and charges was £2.5 million, down from £2.9 million last year. Trade sales were £41.5 million, down from £47 million last year’s period. Pre-tax profit was £640,000, down from £3.1 million. The declines came primarily from children’s books, with sales of £25.3 million, down almost 19 percent from £31.1 million a year ago, and pre-tax profit of […]
Bonnier Books 8-Month Report Shows Flat Sales and Improved Operating Loss
Bonnier Books’ parent company Bonnier released 8-month earnings for the period of January to August 2019, with overall sales for Bonnier of SEK 17.2 billion, up from SEK 16.1 billion last year’s period. (They report in 8-month and 4-month installments.) Bonnier Books sales were near flat at SEK 3.633 billion ($375 million), down from 3.636 billion a year ago. Sales are down more noticeably for the last 12 months, at 6.33 billion, versus 6.436 billion a year ago. Meanwhile, the EBITA loss improved, to SEK (111 million) from (215 million). Adlibris sales were also down, to SEK 1.325 billion from […]