Amazon’s Big Third-Quarter Loss
Amazon posted a third-quarter net loss of $274 million on a sales increase of 27%, to $13.8 billion. The loss was higher than analysts had expected and was attributed to a host of investments, ranging from new Kindles to new warehouses. Even as investors worried over the results, in a prepared statement chairman Jeff Bezos touted Amazon’s willingness to invest in new, consumer-friendly devices. The company expects fourth-quarter sales to rise between 16% and 31%.
Vancouver’s D&M Files for Bankruptcy
D&M management will work with the Bowra Group to find an investor or purchaser for its assets, and says that the company intends to continue operations while restructuring. D&M has three imprints: Douglas & McIntyre, Greystone Books, and New Society Publishers. New Society is a separate legal entity, has not filed for protection, and will continue its business as usual.
Self-Publishing Sees Rapid Growth
The number of self-published books produced annually in the U.S. has nearly tripled, growing 287% since 2006, with 235,625 print and e titles released in 2011, according to a new analysis of data from Bowker. While print accounts for 63% of self-published books, e-books are gaining fast. E-book production in 2011 was 87,201, up 129% over 2006. Print grew 33% in the same period.
Bloomsbury’s Mixed Six Months
Sales at Bloomsbury Publishing rose 2.5% in the six-month period ended August 31, to £43.5 million, but pretax profits fell to £0.9 million from £1.5 million. Bloomsbury said shifts in its product mix, which now has more emphasis on the academic and e-book markets, are making the second half of the year more important than the first six months.
B&N Gets Hacked
Barnes & Noble said that there was “tampering with PIN pad devices” in 63 of its stores, all related to “one compromised PIN pad” in each location. In reaction to the tampering, B&N stopped using the pads in all 700 of its trade stores, but noted that its college stores and Nook store were not affected.
Khazaei Named Bookish CEO
Ardy Khazaei has been named the new CEO of Bookish, succeeding Caroline Marks, who left in mid-September. Most recently a consultant, Khazaei had been CEO of the community writing site Webook and before that senior v-p of electronic media for HarperCollins.
Pinsker to Klutz
Filling a position that has been opened since Matt Brown left at the end of 2011, Jeff Pinsker has been named president of Klutz and a v-p of Scholastic. Pinsker, who will lead the creative, sales, and marketing direction of Klutz, will assume responsibilities December 3, and report to Ellie Berger.
New Pub for Oasis
Steve Smith has been named the new publisher of Oasis Audio, following the resignation of Tammy Faxel, who is joining Brilliance Audio. Smith has served as the v-p of sales and marketing since August 2010.