In a brief first quarter trading update, Bertelsmann said that sales are up 2.5 percent, at 3.622 billion euros, and group income has returned to profitability at 45 million, compared to 78 million euro loss in the same period a year ago. No divisional data is provided in the quarterly update; those details will come in their half-year earnings report on August 31.Release Elsewhere in Europe, Mondadori also returned to modest profit in the quarter of 2.4 million euros, though their sales declined 2.8 percent to 345 million euros due to lower advertising and circulation. “Mondadori said it would continue […]
International News
Angry Robot Imprint Sold to Osprey
In a strangely-worded press release that makes you struggle to sort out what has happened, Harper UK’s science fiction imprint Angry Robot Books, started a year ago, has been sold to Osprey Publishing. Osprey focuses on niche communities, like military history. Angry Robot publisher Marc Gascoigne says the publishing program will be unaffected–except for a delay and relaunch. “Our publishing programme for 2010/11 will be basically unaffected by these changes. There will be a short break while the transition is sorted out, but we will be re-launching in September 2010 and then it will be business as usual.” Terms were […]
International Bookselling: Borders Australia Challenges Amazon; Waterstone's Add Papercchase
Borders Australia is fighting Amazon (which does not have a local operation) with a new price guarantee, which the Sydney Morning Herald says “signals a new era in the way Australian book sellers compete in the global online market.” They will promise that if a customer finds a book that costs less from Amazon once shipping is included, Borders will pay the difference in price plus 10 percent.SMH In the UK, the FT reports that Waterstone’s will add in-store concessions from stationery chain Paperchase in 20 stores. Still owned by Borders, Paperchase used to have boutiques in the now-bankrupt Borders […]
In Reorganization, Octopus USA to Close As UK Cuts List and Consults on Job Reductions
“Strategic changes” from the Octopus Publishing Group in London include the closing of Octopus USA, launched within Hachette Book Group USA at the beginning of last year. As a result, USA associate publisher Jonathan Stolper and director of publicity and marketing Andrea Glickson’s jobs are being eliminated, though the company says they “launched and managed the Octopus USA business very successfully, and Octopus’ profile in North America has grown significantly thanks to their hard work.” HBG’s client services group will continue to handle sales and distribution of Octopus titles here. In the broader reorganization of the unit, they will focus […]
After Textbook Bribes, Macmillan UK Is Barred from World Bank Contracts
Macmillan’s UK education division admitted to making bribes “in an [unsuccessful] attempt to get a contract to print textbooks” for an education project in Sudan whose funds were administered by the World Bank. As a result, the bank has barred Macmillan Limited from eligibility for bank-financed contracts for six years. Macmillan would not discuss the incident with Reuters, but a spokesperson said “We will not tolerate improper behavior as a company, and the fact that we have worked closely with the World Bank to reach this agreement is evidence of that. There is no suggestion that these concerns have affected […]
At Least Some Canadian Booksellers Ask Government to Lift Import Restrictions
The Canadian Booksellers Association said in a release last week that parallel import restrictions on books from publishers outside of Canada are “no longer commercially reasonable and should be repealed.” CBA vice president Mark Lefebvre told Quill & Quire that the current law, particularly given the strong Canadian dollar, is “a tariff on the Canadian book-buying public.” Part of the booksellers’ argument is that customers are driven to purchase cheaper editions from US online sellers. Canadian books are generally priced higher in Canadian dollars, so that when their currency reaches parity with the US dollar the Canadian editions are considerably […]