Barnes & Noble reported sales of $1.1 billion for their third quarter, and a net loss of $18.4 million. Same-store BN store sales of $971 million were down a big 7.4 percent (and fell 4.4 percent overall), while sales at the online unit rose 2 percent, to $109 million. The loss includes a special after-tax impairment charge of $7 million “to reduce the asset carrying value of certain store locations.” The results are below the company’s previous guidance and analysts’ diminished expectations–the operating loss of .21 a share compares to analysts’ prediction of .16 share. BN reduced their fourth quarter […]
National Book Awards: Matthiessen, Gordon-Reed, Blundell, and Doty
FictionPeter Matthiessen, Shadow Country (Modern Library)NonfictionAnnette Gordon-Reed, The Hemingses of Monticello (W.W. Norton & Company)Young People’s Literature Judy Blundell, What I Saw and How I Lied (Scholastic) PoetryMark Doty, Fire to Fire: New and Collected Poems (HarperCollins). We started sales tracking the winners online as soon as they were announced last night. (Amazon is the first column; BN.com the second): MathiessenStart: 1,321 1,416Now: 265 92 Gordon-ReedStart: 1,100 1,282Now: 317 167 DotyStart: 51,418 38,416Now: 3,391 40,790BlundellStart: 23,200 63,008Now: 3,378 50,756Some quotes from the coverage: Gordon-Reed: “It’s sort of wonderful […]
People
Hachette Book Group has filled the open chief operating officer slot with the hiring of Kenneth Michaels, who joins the company on January 5. He was most recently svp of global business process management for the McGraw-Hill Companies. CEO David Young notes, “he consistently achieved impressive results across many areas of the business including IT infrastructure and strategy, new business development, distribution initiatives, operations, inventory, and leadership development.” He will “focus on finding opportunities for greater efficiency throughout the areas of our business that will report to him: distribution, facilities, fulfillment, IT, managing editorial, production, and strategic publishing operations.” Harper […]
Obama Book Club Selects: Tom Daschle
He’s the likely nominee for Secretary of Health and Human Services, and the latest Obama-backed author to crack the top 20 online, at No. 17 on Amazon’s list morning. (In this case, Senator Obama had already recommended the book, with his endorsement featured on the cover.)
Amazon Honors 3 Distributors
Apparently Amazon recognizes distributors of the year, and this year they are honoring Macmillan, Random House Publisher Service, and IPG. Criteria include “the shortest and most consistent receive lead times” for books, “actively growing” Kindle availability, using Amazon’s print-on-demand, providing correct ONIX data, and strong search inside the book participation. Amazon books vp Russell Grandinetti says in the announcement, “By working together, we’re able to improve the rate at which their books are in stock on Amazon, lower prices through lowering operational costs and help customers find, discover and buy great books…. We’re proud to work with such great distributors […]
SSE Book Draws Two Lawsuits
Author Jay Louis and publisher Simon Spotlight Entertainment are facing two recently-filed lawsuits over the book HOT CHICKS WITH DOUCHEBAGS. Three New Jersey women filed suit last month, charging “commercial exploitation” of their likenesses without consent and invasion of privacy by depicting them as “dubious females who hate men.” The complaint notes, “this belief and/or depictation [sic] is not open for public observation, but is rather a private matter.” Last Friday, club promoter Michael Minnelli filed suit in Las Vegas, charging that his depiction in the book is “derogatory, offensive, and otherwise defamatory.” The plaintiff says he has been “the […]