Hastings Entertainment reported a decline in fourth-quarter earnings, with a net income of $4.07 million or $0.41 per share, compared to $5.82 million or $0.54 per share in corresponding period one year earlier. Total revenue for the quarter declined 2.7 percent to $166.88 million, from $171.49 million a year earlier.For the twelve-month period, net earnings fell to $4.1 million or $0.39 per share from $10.2 million or $0.93 per share in the previous year, while total revenues decreased 1.6% to $538.7 million from $547.7 million last year. Comparable store revenues for books, however, rose 1.3 percent for the year ending […]
Lunch Weekly for Monday, March 23
Deal Reports Just e-mail to deals@PublishersMarketplace if you aren’t using the online form linked below. Report a deal using the online form The Key As usual, the handy key to our Lunch deal categories. While all reports are always welcome, those that include a category will generally receive a higher listing when it comes time to put them all together. “nice deal” $1 – $49,000 “very nice deal” $50,000 – $99,000 “good deal” $100,000 – $250,000 “significant deal” $251,000 – $499,000 “major deal” $500,000 and up FICTION Debut Actor, television/film writer, and author of the NYT bestseller BOOTLEG, Damon […]
Bertrams Sold to Smiths News
Book wholesaler Betrams has been sold to Smiths News for £8.6m, the Bookseller reported Friday, four months after its parent Woolworths went into administration. Smiths News, formerly part of WH Smith, has said that it “anticipates that working capital of about £7m will be injected over the period to August 31 into Bertrams” in order to increase stock availability and thereby customer service. “Publishers are delighted that Smiths News has acquired Bertrams and that they have a firm commitment to the future development of the company,” said PA president Ian Hudson. Smiths News has agreed that publisher’s debts will be […]
University of Michigan Press Shifts to All-Digital Operation
The University of Michigan Press announced today that it will shift its scholarly publishing program, responsible for producing up to 60 monographs a year, from being primarily a traditional print operation to a primarily digital one within two years. Michigan officials tell Inside Higher Ed that the shift reflects their belief that old scholarly publishing models don’t work and it’s time to stop trying. “I have been increasingly convinced that the business model based on printed monograph was not merely failing but broken,” said Phil Pochoda, director of the Michigan press. “Why try to fight your way through this? Why […]
Literary Rediscoveries: Fallada, Carleton
The Los Angeles Times looks at Melville House’s recent publication of three novels by German writer Hans Fallada, including Every Man Dies Alone, originally released in 1947 but appearing for the first time in English now. The campaign represents “something of a calculated risk” for Melville House, who hopes for “breakthrough success” for the project. LAT HarperPerennial’s republication of Misourri author Jetta Carleton’s 1962 bestseller The Moonflower Vine, the only novel she ever published, merits mention from the Kansas City Star.
People
Claude Durand will step down as CEO of Editions Fayard effective April 8. He will be replaced by Olivier Nora, who remains CEO of Editions Grasset. Philip Walters will retire as chief executive of Hodder Education in October, a post he has held for 30 years. At becker&mayer!, Adrian Liang has been appointed as Associate Publisher, Adult Group. The Taryn Fagerness Agency will now handle foreign rights worldwide for Martin Literary Management.