This morning the Random House Publishing Group joined the other adult publishing groups at the company in announcing a revised management structure, following the integration of the imprints of Bantam Dell, as well as Spiegel & Grau. In her letter to employees, president and publisher Gina Centrello notes that “regrettably, with this restructuring we have had to eliminate some positions across the division. As a result, a number of our colleagues are leaving the company. We are grateful to them for their many significant contributions to our publishing efforts, and we wish them well.” The company is not specifying the […]
Barnes & Noble Cuts Almost 100 Jobs
The leading bookseller announced after the close of the market that they are eliminating “close to 100 positions in its corporate headquarters.” CEO Steve Riggio notes in the release it is “the first time in the company’s history we’ve had to do this,” adding that “the business climate in which we are operating is unprecedented, and therefore, the reduction in expenses is inevitable.” He notes “the current business climate and the downturn in retail sales mandate that we reduce corporate overhead costs as appropriate to our overall sales volume.” The company will take an after-tax charge of $2.5 million to […]
More Big Publishing Declines at Courier Units
A “modest rise in book manufacturing sales was offset by across-the-board declines in specialty publishing segment” at Courier in their first quarter, with overall sales declining 5 percent to $59.6 million, while net income was $0.7 million, half of what it was a year ago. In the publishing segment, “the steepest declines were at Creative Homeowner in keeping with recent quarters and the persistent weakness in the nation”s housing sector.” Publishing sales of $11.5 million were down 25 percent from $15.3 million a year ago. The company says they had declines of 13 percent at Dover, 27 percent at REA […]
Sales Fall at Waterstone's
Sales for the five-week holiday period fell 2 percent on a same-store basis and 0.9 percent overall–but extend the period to 10 weeks, and the comps were down 4 percent as overall sales fell 3.2 percent. (The company did not report actual revenue numbers.) Waterstone’s does disclose to the Bookseller that they sold almost 30,000 Sony Readers in the UK since the device went on sale there in September.Release Also in the UK, Bloomsbury issued a nonspecific trading update that says activity “was in line with management’s expectations” and they expect to have cash at the end of the fiscal […]
Mossberg on Shortcovers
The WSJ columnist has been testing Indigo’s new iPhone ereading offering, Shortcovers: “At Shortcovers is the more ambitious and creative of the two. launch, it expects to have 200,000 shortcovers — chapters or other free excerpts — available. About 50,000 of these also will be available for purchase as full digital titles; the rest can be ordered as physical books. Of the digital titles, roughly 15,000 to 20,000 will be older or public-domain books, and the rest commercial books. Typical book prices will be between $10 and $20. If you want to buy paid shortcovers — say a chapter of […]
HBG Cuts Off eBook Wholesalers Over Territorial Enforcement
Also from the epublishing world, TeleRead first reported that over the weekend Hachette Book Group pulled its titles from a number of ebook wholesalers–including Ingram Digital, Overdrive, Mobipocket Paris, and BooksonBoard–over longstanding concerns about the enforcement and verifiable reporting of territorial rights provisions to the publisher. HBG’s Maja Thomas confirms the report for Lunch, noting that this has been “an ongoing issue; we’re not an isolated publisher” in dealing the problem. She underscores that “we’re not trying to restrict stales that are legitimate” and “we want the ebook economy to be robust.” At the same time, in its units throughout […]