Simon & Schuster broke from three straight quarters of sales and profit declines with a strong third-quarter showing. Sales of $225 million were up 5 percent from $214 million a year ago (though they are still down 5 percent overall thus far in the fiscal year). OIBDA and operating income were both up 8 percent compared to a year ago, at $25.8 million and $23.4 million respectively. The report credits “the success of best-selling titles in the third quarter of 2008, including The War Within by Bob Woodward and Real Life: Preparing For the 7 Most Challenging Days of Your […]
Harlequin Holds On
With Canada’s Torstar reporting results for the their third quarter, their Harlequin unit “had a solid quarter and remains on course for a good year of growth,” even as the economy weakens. The company says “we remain concerned that the US economy could have a negative impact on Harlequin’s results, but to date there is no evidence of this.” In part, the weaker Canadian dollar makes US sales more valuable, though in an odd dichotomy, the company credits foreign exchange for helping to lift sales this period, yet blames FX for reduced profits. Sales for the quarter were $118 million […]
More Reports: Indigo Holds Steady
At Canada’s dominant retailer Indigo, sales for the second quarter fell 2 percent to $205 million (CA), with net earnings “down slightly” at $3.2 million. CEO Heather Reisman says “we were pleased with the bottom line results given today’s challenging economic climate.” Same-store sales rose 2 percent at the Indigo and Chapters superstores, and 7.4 percent at the small-format Coles stores. But online sales decreased 19.8 percent to $21.1 million, attributed entirely (and then some) to the comparison to last year’s numbers for the release of the final Harry Potter Book.Release
Harvard Remains a Google Dissenter
Harvard University was one of the earliest Google Library project participants to decide to let the search giant scan and post only out-of-copyright books from its collections, and the Harvard Crimson says that policy will not change even if the court approves the legal settlements announced earlier this week. University Library director Robert Darnton said in a letter to staff. “As we understand it, the settlement contains too many potential limitations on access to and use of the books by members of the higher education community and by patrons of public libraries.” He also noted: “The settlement provides no assurance […]
Whiting Winners
This year’s Whiting Awards, worth $50,000 each, for “writers of exceptional talent and promise in early career,” have gone to: Mischa Berlinski, fictionRick Hilles, poetryDonovan Hohn, nonfictionDouglas Kearney, poetryLaleh Khadivi, fictionManuel Munoz, fictionDael Orlandersmith, playsBenjamin Percy, fictionJulie Sheehan, poetryLysley Tenorio, fiction
Graywolf's Success
St. Paul’s City Pages has an extensive profile of the rise of Graywolf Press, led by their successful publishing of Norwegian novelist Per Petterson, “until recently, little more than an obscure, aging novelist with a tragic past.” Director and publisher Fiona McCrae says of his Out Stealing Horses, “It seems like a quiet book, until you realize it’s stolen your heart and your mind. We really liked it, but we didn’t think it was going to be a big, big book. We’re not that bright.” But they are bright enough, and passionate enough, to have put together a run of […]