Wiley reported fiscal second quarter earnings Wednesday morning (not expecting that financial markets would be closed in honor of the late President Bush). Sales of $449 million were down by $3 million, as operating income of $57.5 million was down $23.3 million. They took $10 million of restructuring charges in the quarter, $8.7 million of…
Trump Books, The Women of Fiction, and Expanded Books Coverage in 2018
NY Magazine looks at “Book Publishing’s No Good, Very Good Year of Trump” for their best of 2018 package. Fortunately, PW debated making Donald Trump their “person of the year,” they report, but realized that would be a mistake: “We were afraid that no matter how we explained it, if we put him on the…
People, Etc.
Arcadia Publishing coo Paul Raffle has stepped down from his position, succeeded by former Perseus Books Group coo Charles Gallagher. Lezen Acquisition bought the company back in May and Raffle had agreed to stay on through the transition, and he will consult on a part-time basis going forward. Gallagher has been consulting for Arcadia for six…
People, Etc.
Alexa Pastor has been promoted to editor for Atheneum. Ashley Vanicek has been promoted to PR specialist at Amazon Publishing, supporting Lake Union Publishing and Thomas & Mercer. Mark Weinstein has joined Diversion Books as senior editor. He was previously an executive editor at Rodale Books, Staci Burt has joined Grand Central as publicity manager. She…
One Wholesaler to Rule Them All? Ingram Reportedly Looking at Baker & Taylor Acquisition
The Federal Trade Commission is reportedly conducting a “preliminary nonpublic investigation” about booksellers’ use of major wholesalers, Shelf Awareness reports, and telling some interview subjects that the queries are related to the possibility of Ingram acquiring Baker & Taylor. One person interviewed characterized it as a “fact finding” mission to investigate the effects of a consolidation that would…
Barnes & Noble Education Shares Fall Hard On Poor Quarter
Barnes & Noble Education underperformed again, with second quarter sales falling 8.1 percent to $815 million, and investors headed straight for the door. Ninety minutes after the market opening, shares were down approximately 28 percent, to about $4.60 a share, which would be a new all-time low for the stock if it holds. (At that price,…