Reporting results for their fiscal third quarter, ending right after Chrismas, Canada’s dominant bookseller Indigo recorded sales of $330 million, up $7.4 million from a year ago. The Indigo and Chapters superstores rose 2.2 percent on a same-store basis, while the small format Coles store comps rose 3.2 percent. Online sales fell 2.6 percent to $30 million. The plunging Canadian dollar helped sales themselves hold up, but it hurt the company’s margins. Pre-tax earnings fell 3.6 percent to $40.1 million, while net income dropped considerably at $26.8 million, down from $49.2 million last year due to various tax line items. […]
International News
Barry Wins Overall Costa
Irish writer Sebastian Barry missed out on the Booker, but now he has won the overall Costa Award for THE SECRET SCRIPTURE. Chairman of the judges’ panel Matthew Parris cited “a narrator had been created of such a transcendence that that redeemed all the other structural weaknesses in the book.”Wire
From the UK: Sales Fall at Smiths; Waterstone's New "Hosts"; Puffing Caroline Michel and More
A burst of short items from the United Kingdom: Sales at WH Smith‘s high street stores for the nine weeks ending January 17 declined 7 percent compared to a year ago. (They were down 7 percent for the past 20 weeks as well on a comp basis.)Company release Over at Waterstone’s, Nick Hornby and Kate Mosse will merchandise special Writer’s Tables at the chain stores. (The program started last year with tables from Sebastian Faulks and Philip Pullman.) The Guardian redefines the paradigm of a puff piece, as their reporter is thrilled to get the “first interview” with Caroline Michel […]
Smaller Publishers to Skip BEC, Too
Following the withdrawal of Canadian units of Random House, Penguin and HarperCollins from the Book Expo Canada trade show, other publishers are announcing that they too will skip the show this year. Scholastic Canada, H.B. Fenn and Company, and DK/Tourmaline tell Quill & Quire they will not exhibit. Executive director of the Association of Canadian Publishers Carolyn Wood says, “I won’t write it off yet, but I won’t bet any big money on seeing a trade show this year.”Q&Q
More Withdrawals from Book Expo Canada
HarperCollins Canada and Penguin Canada have joined Random House Canada in announcing that they will not exhibit at this year’s Book Expo Canada trade show. Simon & Schuster Canada is the only one of the country’s four largest publishers that has said it will participate, though president Kevin Hanson indicates their involvement will be modest. The Globe and Mail writes: “Are booksellers in Vancouver or Edmonton or Halifax going to commit to coming to Toronto knowing that three former anchor tenants won’t be there? And will other small or medium-sized publishers bow out now that the lure of the big guys […]
No More Multiple Offers from Random House Canada Imprints
Quill & Quire says that “Random House of Canada will no longer allow its individual imprints – namely Random House Canada, Knopf Canada, and Doubleday Canada – to make offers on the same titles.” Now “only one division will be given the go-ahead to pursue a book.” RH Canada president Brad Martin says he will be joined by executive publisher of Knopf Canada Louise Dennys and Doubleday Canada publisher Maya Mavjee on a committee that will decide which imprint gets to bid based on “who needs [the book], who wants it, and who can bring the best possible focus to […]