Waterstone’s parent has updated the sparse sales statistics provided in late April with their “preliminary results” for the fiscal year. The basic numbers are the same (comp sales still fell 3.8 percent), though they add actual sales for the year–548.3 million pounds–and profits, at 10 million pounds down 38.5 percent from the previous year. The decline in earnings is attributed to “the sales decline, a 10 basis points reduction in gross margin due to the higher mix of online sales, and £2.0m of book hub start-up costs, partially offset by cost control measures, including bonus savings.” They also too “exceptional […]
International News
Random UK Children's Creates Joint Venture to Develop Film/TV Properties
Random House UK’s Children’s Book division has created a new joint-venture in partnership with Komixx Entertainment to produce animated and live-action children’s and family films and TV programs. Called Random House Children’s Screen Entertainment, they will develop the publisher’s books and characters, and plan to include both film and TV partners as well as video game producers, toy manufacturers and other merchandisers. Fiona Macmillan will lead the venture for Random House, and advisor and minority shareholder Catherine Robins is joining the management of the new entity. Random UK Children’s managing director Philippa Dickinson says “it marks a huge step forward […]
Bloomsbury Calls Allegations "Unfounded, Unsubstantiated and Untrue"
Bloomsbury responds to the lawsuit filed by the estate of Adrian Jacobs saying that “JK Rowling had never heard of Adrian Jacobs nor seen, read or heard of his book Willy the Wizard until this claim was first made in 2004…. Willy the Wizard is a very insubstantial booklet running to 36 pages which had very limited distribution. The central character of Willy the Wizard is not a young wizard and the book does not revolve around a wizard school.” When first asserted in 2004, “the claim was unable to identify any text in the Harry Potter books which was […]
Another High-Profile Resignation at Granta, and More People News
This time it’s at Granta Publications and Portobello Books, where David Graham has resigned as managing director. Announced in a two-line statement, the company says “queries previously directed to David Graham should be directed to Granta publisher Sigrid Rausing.” Graham came over from Canongate in 2006. Also in the UK, Hannah Black is leaving Century to join Harper UK in August as a publisher at Harper Nonfiction, reporting to Carole Tonkinson, the Bookseller reports. At Sourcebooks, Rebecca Frazer has joined the company’s New York office an acquisitions editor for Jabberwocky. She has acquired and edited children’s books for HarperCollins, Simon […]
People and More
Yesterday Barnes & Noble named Katherine Howe’s debut novel The Physick Book of Deliverance Dane as their latest chainwide “recommended” title. Harper UK’s children’s division is making the same cuts to staff that were recently imposed on the rest of the company, with publishing directors Gillie Russell and Sue Buswell both leaving the company. But managing director Mario Santos tells the Bookseller “both Gillie and Sue have agreed to continue to work with us on specific projects.” But an update of the story says Buswell will join Random House Children’s at the end of June as part-time maternity cover for […]
Quercus Still Growing, without Profits
Sales at Quercus rose to 10.94 million pounds, up 27 percent, but the house reported a consolidated loss of 281,000 pounds for 2008. CEO Mark Smith writes, “the disruption in the UK marketplace contributed to a shortfall in our anticipated Trade revenues and, as a result, total revenue fell short of expectations.” He writes that the first five months of 2009 have been better, saying “we are confident of achieving better results in 2009, but remain watchful and prudent in the current climate.” (Quercus should start to receive royalties from the US edition of Stieg Larsson’s novel later this year.) […]