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Trade Sales Fall In Down Quarter for Scholastic

Scholastic reported lower sales and a higher seasonal loss for their fiscal third quarter, ending February 28, but the company said it "controlled costs effectively, protecting profits despite reduced sales in clubs." Sales of $336 million were down by 8.2 percent ($30 million), on "lower revenues in book clubs and trade,"…

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Lagardere Publishing Profit Rises, As HBG USA Sales Fall 4.2 Percent

Lagardere followed up their headline sales report for 2016 with fuller details, adding information on profits and other granular breakdowns. Group recurring EBIT came in at €395 million versus €378 million in 2015, and publishing EBIT of  €208 million was up €10 million -- comprising over half of the group's…

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Wiley's Book Sales Continue to Fall

Wiley reported third quarter results on Tuesday morning, and the company continues to perform well in nearly every area and medium except for their oldest one: books. Companywide sales were flat at $436.5 million, with net income rising $14 million to $53 million in the period. They took a $9.1…

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Pearson Takes £2.55 Billion Charge

Pearson reported full 2016 results on Friday morning in London, announcing an impairment charge to North American goodwill against their declining higher education courseware market of £2,548 million. While the company said that in 2017 "early trading is in line with expectations," they neglected to mention the big charge when…

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Houghton Takes $139 Million Charge In Another Bad Quarter

Houghton Mifflin Harcourt continued their string of disappointing results on Thursday morning, reporting poor fourth quarter earnings. Net sales of $242 million were down $56 million (or 19 percent) from a year ago. The continuing trouble at their legacy basal and supplemental education business helped lead to an operating loss…

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Simon & Schuster Finishes with Declining Sales But Rising Profits

Sales at Simon & Schuster fell to $209 million in the fourth quarter, down $24 million compared a year ago. (In 2014, the company had sales of $215 million in the quarter.) CBS said in their release the decline reflected "a difficult comparison with the fourth quarter of 2015, which…

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Harper Regains Some Ground In Second Quarter

News Corp. reported results for their fiscal second quarter ending December 31 on Thursday after the close of the market. They cited "meaningful revenues at HarperCollins" as the publisher's sales rebounded to $466 million (up $20 million from a year ago) and EBITDA of $75 million (up from $57 million a…

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A Soft Finish for 2016 At Lagardere Publishing

Lagardere reported fourth quarter results after the close of the market in Paris on Thursday, with publishing division sales of 619 million euros down 1.9 percent (or €12 million), "as expected," since they published a new Asterix in France in the final quarter of 2015. Acquisitions, including Perseus, added €22…

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Quarto to Sell Ailing Books & Gifts Direct; Peanuts Stake for Sale

After years of poor results from the Books & Gifts Direct business in Australia and New Zealand, Quarto announced preliminary agreement on a sale on that division, with the deal "anticipated to close in the coming weeks." They are expected to receive a mere $1 million (Australian) in cash, plus $4.75 million "in…

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Scholastic Gains On Smaller Potter Bump

Scholastic reported fiscal second quarter results Thursday morning, for the period through November 30, with another Harry Potter boost from Fantastic Beasts lifting sales, albeit less dramatically than the gains the previous quarter from HP and the Cursed Child. Sales of $623 million were up $21 million, or 3.5 percent, with…

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