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Industry Stock Prices Fell 4% in 2020
A second-half rally helped to limit the decline of the Publishers Weekly Stock Index to 4% in 2020, as four of the seven companies on the PWSI managed to post an increase in their stock prices compared to the beginning of the year.
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Book Fair Sales Plunge at Scholastic
Revenue at Scholastic's book fairs dropped 79% and total revenue at Scholastic dropped 32% in the quarter ended November 31, 2020, compared to the second quarter of fiscal 2020, as the pandemic led to a significant decline in the number of fairs held. The publisher has tapped two new leaders for its international and educational solutions businesses.
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Adult Trade Sales Had Solid October
Sales in October in the adult trade book segment rose 10.2% over 2019 at publishers that report results to AAP. Sales in the two digital formats had double digit increases in the month and, for the first 10 months of 2020, e-book sales rose 11.5% over 2019, while downloadable audio sales increased 15.8%.
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Wiley Has Sharp Earnings Increase in Q2
Citing “record research output and content consumption, robust online enrollment growth, and broad digital courseware adoption,” net income at John Wiley jumped 53.5% in the second quarter of fiscal 2021 on a 5.3% increase in revenue.
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Earnings Dive at Barnes & Noble Education in Q2
A 22% decline in sales in its retail division led to a 79% drop in net income at Barnes & Noble Education in the second quarter ended October 31, 2020, compared to last year. Textbook sales fell and general merchandise revenue took a big hit.
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Big Publishers Post Big Third-Quarter Gains
The easing of lockdowns and strong increases in digital sales led to double-digit sales gains for four trade publishers that reported financial results for the quarter ended September 30 over the same period in 2019.
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S&S Has Gains in Sales, Earnings in Q3
With sales of both print and digital books rising in the third quarter, revenue at Simon & Schuster increased 28.5% over the quarter ended September 30, 2109, and profits were up 5.5%.
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Profits Jumped 45% at HarperCollins
A 20% increase in digital revenue and a 38% jump in direct-to-consumer sales over last year’s first quarter of fiscal 2021 helped to drive up profits by 45% and sales by 13% at HarperCollins.
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HBG Sales Rose 19% in Q3
Led by the megabestseller 'Midnight Sun' and 'The Return,' sales at Hachette Book Group jumped 19.2% in the quarter ended September 30, 2020, over the comparable period in 2019. Digital sales also had solid gains in the period.
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HMH Trade Group for Sale; Archer Departs
In an attempt to become a "pure-play learning technology company," HMH is looking to sell its trade group, Houghton Mifflin Harcourt Books & Media. Group president Ellen Archer has left the company.
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RELX Group Remains the World's Top Publisher
The world’s largest publisher did it again in 2019, with revenue of $5.64 billion.
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Amazon Rolls On, Seeing Massive Revenue Surge in Q3
Third-quarter sales rose 37% over 2019 and earnings soared at the e-commerce giant. The company said it has seen signs that customers are indeed shopping early, something retailers of all kinds are pushing for to avoid lost sales if Covid-19 cases surge closer to the end of the holiday shopping season.
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Trade Publishing Sales Were Solid Through September
Sales of adult trade books rose 8.9% through the first nine months of 2020 over the comparable period in 2019, and sales in the children/young adult segment increased 7.7% for publishers that report sales to AAP’s StatShot program.
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Bloomsbury Posts Double-Digit Gains in First Half of Fiscal 2021
A 55% increase in digital sales plus higher online revenue led to a 10% increase in sales while pre-tax profits more than doubled at Bloomsbury in the six-month period ended August 31, 2020.
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Higher Digital Sales Drove Gains of Adult Books in August
Sales of downloadable audio jumped 32% in August over a year ago and e-book sales rose 14.6%. With hardcover sales up 29% in the month, sales of adult books rose 13.2% in August, according to AAP's BookStat. Total industry sales inched up 0.3% in the month.
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Earnings Soared at EDC in Q2
Net earnings for the second quarter ended August 31, 2020, soared at Educational Development Corp., jumping to $4.2 million, from $1 million, in the second quarter ended last August. Revenue rose 142.5%, to $59.2 million.
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Book Biz Stocks Sink in Third Quarter
While the Dow Jones Industrial Average rose 7.6% in the quarter ended September 30, the PW Stock Index fell 6.1%, with companies involved in the educational market hit hardest.
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Club, Fair Declines Plague Scholastic
Cost cuts improved Scholastic's bottom line in the first quarter, but sales at book fairs and book clubs tumbled during the period, and are expected to remain low in the current quarter.
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July Sales Jumped in Trade, Fell in Education
Sales of adult books rose 20.9% in the month over July 2019, and sales in the children/young adult category increased 14.5%, according to AAP's StatShot program. Sales in the K-12 instructional materials category fell 24.9% compared to last July, while sales in the higher educational course materials segment fell 21.9%.
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Wiley Posts Q1 Gains Led by Digital Sales Boost
Higher sales of a range of digital and online products offset continued declines in print revenue, leading to a 2% increase in sales in the first quarter of fiscal 2021 at John Wiley & Sons.
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