Canada’s Indigo — the country’s “largest book, gift and specialty toy retailer” — reported results for the quarter ending December 27, with sales rising 2 percent to $339 million (CA), and adjusted EBITDA increasing $8 million to $41 million. Same-store sales were up 5.5 percent at their superstores and down marginally in their smaller format stores, while online sales rose 10.6 percent, to $46 million. The improvements were driven by the company’s expanding merchandise sales, with “continued double digit growth in lifestyle, paper and toys, including the highly successful American Girls” boutiques. The company insists that “the core trade books […]
International News
People, Etc.
On Tuesday, the UK’s Sky News reported that Pearson chairman Glen Moreno is “preparing to leave the company later this year” after 10 years there. Their sources say that Pearson has retained a headhunter to oversee the recruitment of a new chair. (It had been announced previously that Moreno will become chairman of Virgin Money later this year.) A Pearson spokesperson said, “Glen Moreno continues as Pearson’s chair and we have not begun an active search for a successor.” At Viking/Penguin, Meredith Burks has been promoted to publicity manager, while Annie Harris moves up to associate publicist. Awards Helen MacDonald‘s memoir H […]
People, Etc.
In the UK, Foyle’s ceo Sam Husain, 67, will retire in April, the Bookseller reports. Former toy retailer Hamley’s coo Paul Currie will take over the leadership for the bookseller, and Husain will stay on as a non-executive director. Also in the UK, Kieron Smith, who had been managing director of bookseller Book Depository before its sale to Amazon, has been hired by Blackwell’s as digital director, starting in February. He fills the slot vacated by Matthew Cashmore. Smith’s recent project, the online Best Little Bookshop, has closed. Hanna Masaryk is joining Greenburger Associates as children’s/YA scout. She was previously an agency assistant at Curtis […]
People
In Italy, general manager of Mondadori’s trade book division (as well as ceo of Einaudi, interim head of Mondadori publishing and chairman of Harlequin Mondadori) Riccardo Cavallero is leaving the company by the end of January. Last week, Mondadori Libri announced a number of new management appointments: CEO Ernesto Mauri is also chairman of the board; Enrico Selva Codde was promoted to managing director of Mondadori trade, working with vice chairman Gian Ferrari; and Antonio Porro was named managing director for education. Mauri says in the announcement: “The scenario of the publishing market is still declining and this means that we need to increasingly keep our […]
Pearson Sees Profit Rising in 2015; WH Smith High Street Sales Continue Falling
In a short trading update, Pearson told investors that 2014 results should be in line with their previous guidance, yielding earnings per share of approximately £720m (of 66 pence a share). Their preliminary forecast for 2015 has earnings rising to between 75 and 80 pence per share. Chief executive John Fallon says in the release, “Despite continuing challenging market conditions, overall we had a good competitive performance in 2014 and expect to report results in line with the guidance we gave at the start of the year. We enter 2015 a simpler, leaner, more cash generative business, well set for long-term […]
People, Etc.
The second book on Mark Zuckerberg’s 2015 reading list is Steven Pinker‘s The Better Angels of Our Nature (Viking/Penguin). “It’s a timely book about how and why violence has steadily decreased throughout our history, and how we can continue this trend,” Zuckerberg writes. At 832 pages, Zuckerberg and Facebook friends will take four weeks to read the book instead of two — but he will “add a third book in two weeks that will be a shorter read to complement this.” At Wiley, Mark Allin is being promoted to executive vice president, chief operating officer, effective May 1, with strategic and operational responsibility for Wiley’s […]