WH Smith presented the market with a pleasant surprise, reporting sales of 1.352 million pounds, up 4 percent for the year, with profits rising 15 percent to 76 million pounds, above analysts’ expectations. Like-for-like book sales were “flat excluding the impact of last year’s Harry Potter release” (aka “down”). “Gross margin was up year on year. We were pleased with our share performance versus the general high street,” the company said. And among their travel stores, “extended books charts, improved display of chart titles and strong promotions have contributed to our books performance and we have also seen an encouraging […]
UK
UK Publishers Think Thrifty
We’re headed into uncharted waters in gauging the effect of economic crisis on the consumer publishing business, and the Guardian looks for some signs. UK chain Waterstone’s “has seen 200% increases in sales of two titles about keeping chickens in recent weeks.” And Weidenfeld & Nicolson publishing director Alan Samson is looking for threads of string: “Books on saving string, thrift in World War Two – publishers would be well advised to check out their backlist and see if they’ve got these sorts of books.” More broadly, Viking editorial director Joel Rickett says, “We’re thinking more widely about the kind […]
Bertram's Stabilizes?
Managing director of UK wholesaler Bertram’s Michael Neil assures the Bookseller that “conversations have concluded and we are now trading normally” with publishers following the cancellation of some credit insurance policies for their parent company Woolworth’s. But since the company never acknowledged a problem in the first place (“From our perspective and from our customers’ there hasn’t been any disruption to our service. Our warehouse is full of books and sales have been better than ever”) that’s only worth a certain amount. The financial condition of Woolworth’s a whole remains perilous. Separately, the FT reports today (and Woolworth’s confirms) that […]
Amazon's UK POD Play
In April Amazon UK said they had “no plans” to bring BookSurge’s print-on-demand services to the UK, but they also hedged their bets by noting “we do not comment on future plans.” Now they have very concrete plans for a POD program, and the company says publishers who will participate include Harper UK, Cambridge University Press, Wiley, and Faber & Faber. Their ambition, according to vp of media Chris North, is “to bring hundreds of thousands of books to Amazon.co.uk’s customers that might never have otherwise been available.” The company has not disclosed their vendor for the printing, which will […]
The UK's Super Thursday
For Jews this Thursday is the holiest day of the year (Yom Kippur), but for Brits it’s when 800 big holiday titles are published, “three times more than an average day.” Borders UK category manager Michael Jones coined the moniker, and the tells the Guardian, “So many of the really big books that are contenders to be in the top 10 are coming out. I can’t remember there being one day or even one week when it’s been like this. We’ve known about this day for a while so we’re prepared.”Guardian Separately, today’s WSJ focuses on three cookbooks landing Tuesday […]
As in US, Waterstone's Sales Fall
Citing a “tough consumer environment” and in particular a “a weaker book market,” HMV said in a brief trading update for the 18 weeks weeks ending August 30 that same-store sales at the Waterstone’s chain fell 4.3 percent, and declined 1.7 percent after you take out Harry Potter. Total sales at Waterstone’s fell 5.9 percent for the period. The chain launched the Sony Reader yesterday with about 7,000 titles available (they expect to have about 20,000 titles by the end of the year) and has enrolled 1.8 million loyalty card members.Statement