Canadian retailer Indigo reported sales for their fiscal first quarter, ending June 30, with sales of $205.4 million (CA), down $1 million and below expectations of a modest gain, as the company swung to an adjusted EBITDA loss of $13.3 million, and a pre-tax loss of $20.7 million (versus a loss of $7 million a year ago). EBITDA suffered due to “higher discounting, higher costs at the expanded distribution facilities, the increase in minimum wage in Ontario, and other investments in transformational initiatives.” Superstore sales comps were barely positive, up 0.2 percent, as were small-format store comps, up 0.76 percent. […]
International News
Deja Vu All Over Again: Vivendi Negotiates to Buy Editis
In reporting half year results, French conglomerate Vivendi announced that they are in “exclusive negotiations with Grupo Planeta” to acquire the French book publishing division Editis. (Once upon a time, Editis was owned by a different incarnation of Vivendi, Vivendi Universal Publishing, which also used to own Houghton Mifflin. Hachette Livre bought and retained 40 percent of the European Editis empire in 2004; the remainder was sold to Wendel Investments, which sold Editis to Planeta in 2008.) The announcement says Editis — France’s second-largest publisher after Hachette Livre — had 2017 sales of approximately €750 million and a recurring EBIT […]
People, Etc.
At the Penguin Random House US Finance Group, Justine LeCates has been appointed vice president, director of US finance. In the newly created position, she’ll be responsible for overseeing the US division’s financial planning & reporting, analysis and financial Systems. Yvonne Ricciuti has been promoted to senior director of financial systems. In the Random House Publishing Group publicity department, Jennifer Garza has been promoted to director of publicity, Ballantine Bantam Dell; Greg Kubie becomes associate director of publicity; and Dhara Parikh moves up to senior publicist. Emily Ritter has joined Simon & Schuster Children’s as digital & social marketing manager. She was most recently marketing manager at […]
Another Reshuffling: Bonnier’s UK Publishing Will be Just Bonnier Books UK, Under Existing CEO Mann
Five months after the dismissal of Bonnier Publishing group ceo Richard Johnson, the company has decided to eliminate his position entirely. The UK-based book publishing group is renaming and rebranding the troubled division Bonnier Books UK. Perminder Mann, who was already ceo of the operating units, continues as ceo with the group now reporting straight to Bonnier Books in Sweden. Parent company Bonnier cfo Jim Zetterlund, who had been interim ceo after Johnson’s departure, will serve as chairman of Bonnier Books UK. Previously the Bonnier Publishing group had included units in the US and Australia. Now Bonnier Publishing USA will report to […]
People
Powell’s Books ceo Miriam Sontz will retire in January 19, six years after her promotion. Powell’s president and owner Emily Powell and coo John Kingsbury will lead the company once Sontz, who spent more than 34 years with the company, departs. In a statement, Powell thanked Sontz “for her vision and leadership. Her particular impact on Powell’s trajectory may be invisible to many, especially outside of our walls, and yet we would not be Powell’s without her. She leaves us in a strong position for continued success.” Jenny Brown will leave Random House Children’s Books, where she was vp, publisher […]
People, Etc.
Taneli Ruda has joined Wiley as evp, chief strategy officer, where he will help to define and accelerate the next phase of the company’s growth. Ruda most recently served as head of corporate strategy at Thomson Reuters, with responsibility for defining the company’s portfolio and growth strategies, and driving company-wide M&A. “Taneli is an exceptional talent, and I am excited to welcome him to Wiley,” Wiley president & ceo Brian Napack said in the announcement. “He has extensive experience identifying robust and sustainable growth strategies for global organizations. Taneli’s innovative thinking and ability to translate complex strategies into action will […]