Vroman’s Bookstore announced on social media that it will close its Hastings Ranch location in Pasadena, CA on May 12. The company has been in lease negotiations with the building owner since January, when owner Joel Sheldon announced his retirement and sale of the business. “We are disappointed to share with you that we were unable to reach an agreement with the property owner of Hastings Ranch that was sustainable, due to increasing occupancy expenses,” the store wrote on Twitter. They indicate that 12 employees are impacted by the change, and that they will “do everything we can to support […]
Winstanley to Become President & Publisher of S&S Canada
Nicole Winstanley will leave her position as publisher, Penguin Canada, and vice president, Penguin Random House Canada to become President & Publisher of Simon & Schuster Canada, beginning April 11. She has been at Penguin Canada since 2006. Winstanley will report to S&S president and CEO Jonathan Karp. “Nicole Winstanley is one of the most highly regarded publishers at work in Canada,” he said in a release. “Nicole’s reputation for excellence, her commitment to authors, and her keen editorial eye will help us become an even greater force throughout Canada and all of the territories in which we publish. We […]
The Story Prize
Paul Yoon's The Hive and the Honey won the $20,000 Story Prize.
People 3/27
Craig Burke has been promoted to vice president, associate publisher at Berkley.
Audio Sales Continue to Grow, While Returns Fell in 2023
The Association of American Publishers (AAP) released StatShot data from participating publishers for December, and the full year 2023. In December, adult books fell 3.9 percent to $460 million, with $144 million in hardcover sales (down 11.8 percent) and $145 million in paperback sales (down 11.7 percent). Digital formats grew significantly, with ebooks up 10.1 percent to $73 million and digital audio sales up 28 percent to $70.5 million. Children’s book sales gained 5.2 percent in the month to $198 million, with hardcovers down 4.5 percent to $65 million, paperbacks flat at $86 million, and ebooks gaining 82.6 percent to […]
PRH Grows on Acquisitions, SPARE
Bertelsmann announced full year results for 2023, with sales at Penguin Random House of €4.532 billion, up 7.3 percent from €4.223 billion last year. The company attributed the sales increase to acquisitions (taking a majority stake in Sourcebooks and the acquisition of Callisto Media’s publishing assets) as well as strong sales of bestsellers, particularly SPARE. Operating EBITDA was €664 million, compared to €666 million in 2022. “Profits were dampened by negative exchange rate effects, inflation-related cost increases and a positive effect in the previous year from the sale of a building,” the company said in a release. “Special items” accounted […]