The UK’s Faber and Faber reported strong results for the fiscal year ending March 2013, with sales of £20 million and operating profit of a robust £2.24 million. CEO Stephen Page said in a statement: “This record result for the company is very pleasing, and is the result of the company’s long-term plan to thrive in this new era for the industry. Across the publishing, creative writing, digital and service businesses, we saw development and success.” A year ago, sales had declined from £19.1 million to £17.5 million, and after tax profit had fallen to £537,000. On Canongate’s results noted […]
International News
Profits Rebound at Canongate
Independent publisher Canongate definitely had a better year in fiscal 2012, after a disastrous experience the previous year with Julian Assange. It was their iconic hit, the 2002 Booker winner LIFE OF PI, the led the revitalized results, thanks to the success of the film version. After an operating loss for 2011 and pre-tax profit of just £300,000, Canongate reported a pre-tax gain of nearly £1 million for 2012. Reporting their sales is a little confusing, however. The company says in a brief statement that 2012 sales were £9.6 million — and asserts that was an increase of £1.7 million […]
French Bill Targets Amazon
The French government is definitely thinking very seriously about the possibility of putting their foot down just a tiny bit regarding Amazon’s discount book offers. The National Assembly passed a weakened bill acknowledged in debate to target Amazon that would outlaw combining the massive maximum-allowed discount of 5 percent on new books along with free shipping. The bill will go to the Senate, and then, according to reports, back to the National Assembly. President of Amazon France Roman Voog told French newspaper Le Figaro: “Many consumers live a long way from a bookshop and appreciate being able to buy their […]
Bookselling: Tattered Cover Keeps Downtown Lease, Loses One Floor; Chapitre Bookstores for Sale in France; and More
Tattered Cover Bookstore in Denver, Colorado will stay put in its current downtown location (one of three stores, which the bookstore has rented since 1994) but with a catch: it must consolidate two floors into one. Owner Joyce Meskis told the Denver Business Journal that “in January, we will start the demolition of the [store’s] grand staircase with the goal of being resettled in our reconfigured first-floor space by mid-March.” Meskis did not disclose terms of the new rental deal, but added the one-floor store will have “approximately the same number of books,” with “much more tightly packed” shelves, but […]
BISG Presents Industry Awards, and More
The BISG presented their first industry awards Friday at their annual meeting (informally dubbed the Groupies by BISG staff members). The honorees were: Friend of the Industry: Phil Madans, Hachette Book Group Industry Innovation: Edelweiss Disruptor: Allen Lau, Wattpad Most Valuable Committee Participant: Laurie Stark, Penguin Random House In other awards, the October Target Book Club pick is the new trade paperback edition of Ann Leary’s THE GOOD HOUSE. The Southern California Independent Booksellers presented their awards on Friday, to books ranging from Publishers Lunch Buzz Books Spring/Summer title Tom McNeal’s FAR FAR AWAY for YA fiction to Marisa Silver’s MARY […]
UK Cutbacks
UK publisher Haynes is restructuring in the face of declining results and a changing market. The company will move from its current headquarters in Somerset to “more suitably sized premises” and is exiting the distribution market. CEO Eric Oakley said, “The book distribution market has changed significantly. The investment that would be needed to upgrade the UK facility for the requirements of a modern day logistics operation would far outweigh the future benefit to the business.” What the company calls a “relatively small number of roles” will be eliminated as part of the moe. The company reported annual sales of […]