Barnes & Noble threw a lot of different, and in some ways contradictory, data points at the market yesterday, and reactions (as well as articles) are all over the map. The general confusion is well-earned, and a lot rests on how you tell the story. Here are some things to keep in mind: The Stock Plunged–But It Also Took Off At its low point yesterday, about 5 minutes after the market opened, Barnes & Noble’s stock was down more than 30 percent, to about $9.40 a share. In today’s volatile environment, that’s what happens when you miss or lower your […]
If This Story Is Right It Shows How Weak the Agency Lawsuits and Investigations Are
Washington antitrust attorney and former Justice Department lawyer Andre Barlow indicates to paidContent that in Justice’s current investigation “the main issue at stake is Apple and the publishers’ use of so-called ‘most favored nation’ clauses to set pricing.” Similarly, as they note, lead class action attorney Steve Berman writes, “The mfn clauses are significant restraints of trade and part of the anticompetitive acts we will attack.” Yet, as the article notes, “‘most favored nation’ clauses are not illegal, and are used in a variety of industries such as medical services.” Even Barlow “says that the clauses by themselves are not […]
People
Ballantine Bantam Dell publisher Libby McGuire has been promoted from svp to evp. She will continue to oversee the hardcover and mass market publishing programs for the division, reporting to RHPG president Gina Centrello. “With a sales and marketing background, Libby’s marketplace sensibility and decisive leadership is complemented by a wonderful eye for both fiction and nonfiction, for the publishing to support it, and by strong relationship with her colleagues, our authors, and the agent community,” Centrello said in the announcement. Amanda Cook will join Crown as vp, executive editor on February 6, responsible for developing the imprint’s non-fiction list. […]
Barnes & Noble Reduces Expectations On Shortfall In Simple Touch Sales; A Sterling Sale Is Far Along
It’s already another fascinating year for Barnes & Noble, which surprised Wall Street with a number of post-holiday announcements. The success of their Nook Tablet, “which has exceeded expectations,” came at some cost to their less expensive eInk device, “with a shortfall in the expected sales of NOOK Simple Touch.” They say “the company over-anticipated the growth in consumer demand for single purpose black-and-white reading devices this holiday.” Primarily as a result of that Simple Touch shortfall, BN reduced their guidance to investors, projecting fiscal year sales of between $7.0 billion and $7.2 billion, EBITDA of $150 to $180 million, […]
Print Sales Tracked By Nielsen Bookscan Decline Over 9 Percent in 2011
With a particularly light week after Christmas (perhaps because of those post-holiday ebook downloads), unit sales of print books as measured by Nielsen Bookscan declined 9.25 percent for 2011. At 651 million units, the total was 66.3 million units lower than the total for 2010. (Remember our point from earlier in the week: BookStats counted trade ebook sales in 2011 of 76 million units. If that number doubled or more in 2011, the ebook gain could meet or exceed the decline in print units measured by Nielsen Bookscan.) Trade paperback sales, by far the largest category, declined 6 percent, at […]
Some Good News from BN: Holiday Print Book Sales Comps Rose 4 Percent, The First Growth In 5 Years
Barnes & Noble also reported on holiday sales on Thursday, and there the news is at least somewhat better. Over the nine-week holiday period, superstore sales rose 2.5 percent, at $1.2 billion. Same-store sales rose 3.4 percent, which is a positive, though not as strong as last year’s comp gain of 9.7 percent. In good news for publishers, “book sales were strong overall, fueled by strength across multiple categories,” and “physical book sales on a comparable basis increased by 4 percent, exhibiting growth for the first time in five years. More broadly, “retail core” comparable sales, leaving out digital merchandise, […]