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June Rebound Eases Declines at Lagardère Publishing
Revenue in the first six months of 2020 fell 7% at Lagardère Publishing compared to the same period in 2019, helped by a 20% jump in June sales. Hachette Book Group had the best performance in the period, with sales falling 1%.
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Quarto Sales Fell 17% in First Half of 2020
Revenue in the publisher's U.S. group fell 21.8% in the first half of 2020 from the comparable period in 2019, and the U.K.-based Quarto said it expects that the global pandemic will impact its results in the second half of this year.
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The Beat Goes On at Educational Development Corp.
Following a record first quarter, sales at Educational Development Corp. posted another record in June, with revenue jumping 157% over June 2019.
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Scholastic Looks to Rebound from Q4 Slump
The Covid-19 pandemic led to a 40% decline in fourth quarter revenue at Scholastic and an operating loss of $46 million. The company said it expects a "slower than normal start" to the upcoming school year, and believes it will end the current fiscal year with revenue "slightly below" fiscal 2020.
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Revenue Tumbled 71% in First Half of 2020 at Reed Exhibitions
Revenue at Reed Exhibitions, whose businesses include BookExpo, fell to £201 million, from £684 million in the first six months of 2019, and the group had an adjusted operating loss of £117 million compared to a profit of £231 million a year ago.
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Record Year for British Publishing in 2019
U.K. publisher sales rose to £6.3 billion in 2019, 4% higher than in 2018 and 20% higher than in 2015, making 2019 the biggest year ever for U.K. publishing.
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Led By U.S., Bloomsbury Has Surprising Start to Fiscal 2021
Bloomsbury said sales in the first four months of fiscal 2021, which began March 1, rose 18% over the same period a year ago. Revenue in the U.S. increased 38%, and sales of both digital and print books were up overall.
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May Publishing Sales Fell 12.1%
A steep decline in returns somewhat offset a drop in gross sales in May, leading a decline of 12.1% in net sales compared to May 2019. The month did see a jump in adult e-book sales, with sales rising 30.6%.
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AAP Monthly StatShot: April
With most all bookstores closed in the month, total sales fell only 3.5% at the 1,361 publishers that report figures to StatShot.
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Pandemic Takes a Toll on Industry Stocks
The Publishers Weekly Stock Index fell nearly 20% in the first six months of 2020.
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Investment Firm Bids to Nominate Directors to B&NE Board
Barnes & Noble Education said it was surprised to learn that Outerbridge Capital, which owns 13.5% of the company, plans to nominate four of its own candidates to run for B&NE's board of directors.
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With a Plunge in Returns, Net Sales Fell 3.5% in April
Net sales declined only 3.5% in April for publishers who report to AAP's StatShot program. That small drop, however, was due to a significant decline in returns. Publishers are concerned that returns will be heavier than usual when stores reopen and start shipping back unsold titles.
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Virus Leads to Down Fourth Quarter at Wiley
Fourth-quarter sales and earnings fell at John Wiley compared to fiscal 2019 due to lower sales of print books, test prep programs, and corporate training. Sales for the year rose 2%, though a number of one-time charges led to an operating loss.
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AAP Monthly StatShot: March
The 1,361 publishers who report to the AAP’s StatShot program saw a 8.4% decline in sales in March compared to a year ago.
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Boosted by Hunger Games Prequel, Unit Sales Rose 5.5% Last Week
Led by 'The Ballad of Songbirds and Snakes,' Suzanne Collins’ prequel to her blockbuster Hunger Games series, unit sales of print books rose 5.5% last week over the week ended May 16 at outlets that report to NPD BookScan.
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EDC on Track for Record First Quarter
After a scare in March, the first quarter of its new fiscal year, Educational Development Corporation said that it now expects to have a record first period with sales between $36.5 million and $38.5 million.
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Bloomsbury Hoping Digital Gains Will Soften Covid-19 Impacts
Bloomsbury Publishing reported a 10% profit increase in the fiscal year ended February 29, 2020, over fiscal 2019. The publisher said its business in the current fiscal year has suffered "significant disruption" because of the coronavirus pandemic, but said it is "well placed to benefit from increased demand for our digital resources, audio, and e-books.”
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Publisher Sales Fell 8.4% in March
Industry sales fell 8.4% in March compared to a year ago at publishers that report to AAP's StatShot program. Sales in the trade segments has small increases in the month, but sales in all other categories declined.
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With a Booming April, EDC Repays PPP Loan
With sales increasing 160% last month over April 2019 in its direct sales division, Educational Development Corp. has repaid a $1.4 million loan it received under the Payroll Protection Program.
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Book Revenue Fell 21% in Q1 at LSC
Revenue in LSC Communications’ book group dropped 21.4% in the first quarter ended March 31, 2020, falling to $204 million. Lower demand for educational materials offset an increase in its trade business, the printer, which filed Chapter 11 in April, reported.
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