After a weak first half for their fiscal year, Bertelsmann has issued the briefest of Q3 trading updates. Sales for the first nine months fell by 0.7 percent to 11.4 billion euros; they don’t break out third quarter sales, which were approximately 3.765 billion euros. Net profit rose to 387 million euros for those nine months, a low margin that still benefits from comparison to last year when they took a 245-million euro charge to settle lawsuits related to Napster. (Operating EBIT so far this year is down more than 10 percent at 926 million euros, though the company offers […]
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Consensus: You Are Nervous
The NYT reviews most of the reasons publishers and booksellers are nervous about the state of business this holiday season. The article doesn’t face the downturn in profitable backlist, noting instead that “publishers continue to plan for blockbuster sales of marquee-brand books.” At the same time, they note there are big books–300,000 copies of Wally Lamb’s The Hour I First Believed–and very big books, with 1.25 million copies of “You: Being Beautiful — The Owner’s Manual to Inner and Outer Beauty.”NYT USA Today looked at a similar theme yesterday.