Lagardere announced results for the fourth quarter and full year, with quarterly publishing sales flat at €799 million. For the year, sales were €2.87 billion, up 2.2 percent as reported and 1.9 percent on a like-for-like basis. EBITDA grew 34.7 percent to €295 million and recurring EBIT gained 14 percent to €593 million. In the US, sales at Hachette Book Group for the year were up 7 percent, boosted by books including The Wild Robot by Peter Brown, The Housemaid by Freida McFadden, and Eruption by James Patterson and Michael Crichton. In a statement, ceo David Shelley said that the […]
Publishers
Christian Publishing, Digital Sales Up at Harper Collins
News Corp announced results for the second quarter ended December 31, reporting sales at Harper Collins of $595 million, up 8 percent. On a call with investors, News Corp ceo Robert Thomson attributed the growth to Bible sales and strong performance from Harper Collins UK. Top titles in the quarter included Cher’s memoir, Gregory Maguire’s Wicked, and Laurie Gilmore’s The Pumpkin Spice Café. EBITDA grew 19 percent to $101 million due to the increase in overall sales in print and digital, “partially offset by higher manufacturing costs due to higher sales volume and higher employee costs.” The company reports that […]
Pearson to Release AI Skill-Building Tools with Microsoft
Pearson released a brief trading update for the fourth quarter and the full year 2024, and announced an AI partnership with Microsoft. Pearson and Microsoft will release a series of educational tools designed to help people build AI skills “through new AI credentials and certifications.” The companies will also collaborate on a series of AI tools to build workforce skills and learn the English language. Pearson will also expand their use of Microsoft’s AI Copilot tool “across its workforce.” They say in a release, “This is part of an ongoing effort to introduce workplace AI tools that enhance efficiency, creativity, […]
Scholastic Institutes Layoffs As Sales Fall in Q2
Scholastic reported financial results for the second quarter ended November 30, with sales of $545 million, down 3 percent, an expected outcome due to the timing of the company’s big book publications. Operating income dropped 26 percent to $74.4 million with adjusted EBITDA down 12 percent to $108.7 million due to lower sales in the children’s publishing and distribution and education solutions segments. In Children’s Publishing and Distribution, sales were down 6 percent to $367 million with operating income down 9 percent to $102.1 million. Trade books sold $103 in the quarter, down 13 percent, due to lower frontlist sales […]
Wiley Looks Toward “Continuous Improvement”
Wiley announced results for the second quarter ended October 31, reporting sales of $427 million, down 13 percent due to the loss of revenue from divested businesses. Operating income grew 39 percent to $64 million. President and ceo Matthew Kissner said, “Continuous improvement is a way of life for us now, and it’s beginning to pay off in our quality growth and margin expansion. Learning has had a good year so far, both academic and professional, and research delivered low-single digit growth with leading indicators and favorable comparisons signaling a better second half ahead.” Notably, Kissner also said, “Additionally, we […]
High Street Will Continue to Become A Smaller Segment at WH Smith
On Thursday, British retailer WH Smith reported sales for the full year ended August 31. For the year, sales rose 7 percent to £1.918 billion with profit before tax and non-underlying items up 16 percent to £166 million. High street sales were “in line with expectations” at £452 million, down 4 percent from £469 million. Profit of £39 million was down from £43 million a year ago. The company made plain what has been clear for a while from their results and their strategy: As they grow the travel business, the high street division—which accounts for about 15 percent of […]