Scholastic reported fiscal first quarter sales through August 31, returning to a normal quarter after last year’s boost from the release of Harry Potter and the Cursed Child. Sales were $189 million — down from $283 million a year ago, but close to the $191 million in the same quarter two years ago. The company traditionally has a seasonal loss in the first quarter while school is out of session, though this time losses were heavier at $102 million — compared to $62.5 million last year, and $79.5 million the year before that. But the analyst still covering the stock […]
Earnings Reports
Same Story: Book Publishing Continues Decline At Wiley
Wiley reported fiscal first quarter sales on Friday, with sales of $411 million, up $7 million from a year ago, but lower operating income, at $14.5 million down from $43.8 million in 2016. The gap was attributable to $29 million of restructuring and related charges, from their “operational excellence initiatives.” Their book publishing business continues its steady decline: STM and professional publishing fell 10 percent to $63.6 million, as education publishing fell 17 percent to $45.7 million, for a combined decline of $16.3 million. Release
Barnes & Noble’s Sales Decline Below Expectations Again, and Shares Fall
Barnes & Noble reported earnings for their fiscal first quarter on Thursday morning, through July 29, and the trendlines: Lower sales, lower store comps, and continuing losses, with both sales and earnings missing analysts’ modest expectations, sending shares down almost 12 percent in early trading. Sales of $853 million were $57 million lower, down 6.6 percent, with same-store sales falling 4.9 percent, “as declines in non-book categories outpaced improved book trends during the quarter.” The net loss of $10.8 million was better than the loss of $14.4 million a year ago, though did not improve as much as expected. Nook actually […]
Penguin Random House Has Flat Sales, Better Profits
Bertelsmann reported results for the first half of the year, with sales at Penguin Random House (inclusive of the separate RH Germany, which they only break out in the annual report) just above flat, at €1.532 billion (€16 million higher than a year ago). Operating EBITDA of €206 million was €21 million higher than a year ago. But results at the midpoint of 2016 were significantly lower than the same period in 2015, when sales were €1.697 billion and EBITDA was €207 million, buoyed by the rising dollar. Currency exchange may be the most important factor the company does not discuss in the current […]
After Bigger Than Expected Loss, Barnes & Noble Education Shares Sink to New Low
It’s been a tough competition to see which branch of the divided Barnes & Noble can register the most disappointing performance, with Barnes & Noble Education taking the lead in reporting disappointing first quarter fiscal 2018 earnings. The consolidated net loss grew to $34.8 million, or 75 cents a share, compared to a loss of $27.9 million a year ago — and against analysts’ expectations of a loss of 55 cents a share. In early Wednesday trading, shares are down more than 15 percent as a result to a new all-time low of about $5.75 a share. That puts their market […]
Soft Quarter Leaves Harper Sales Down for the Year
News Corp. reported fiscal fourth quarter 2017 earnings on Thursday afternoon, with HarperCollins recording sales of $407 million, down $26 million from a year ago (-6%). Of the decline, $19 million was simply because the same quarter a year ago comprised an extra week, and the company said negative foreign exchange cost another $8 million. They also cited “lower sales at the children’s division, which had bigger title releases in the prior year.” EBITDA for the quarter fell as well, at $39 million, compared to $50 million a year ago. In addition to the sales factors, the company said profits […]