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B&N Education Grapples with Changing College Market
Sales at Barnes & Noble Education fell 7.7% in the fiscal year ended April 27, 2019 compared to fiscal 2018 as the company continue to shift its business model to one that relies more heavily on digital delivery of content.
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Industry Sales Fell 1.6% in 2018
The AAP, in its annual report, found that, in 2018, sales declines in the education and professional segments offset gains in trade, resulting in a 1.6% drop in total revenue for the year.
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Book Comps Fell 3.9% at B&N in Fiscal 2019
In its 10-K filing with the SEC, Barnes & Noble reported that comparable store sales of books fell 3.9% in fiscal 2019 compared to fiscal 2018. Non-book categories did better, with comp sales up 1.9%.
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B&N Posts a Profit in Fiscal 2019 Despite Sales Decline
The bookseller managed to post net income of $3.8 million for the fiscal year ended April 27, compared to a loss of $125.5 million in fiscal 2018, despite a 3.0% revenue decline compared to its last fiscal year.
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Adult Trade, Kids' Sales Up in First Quarter
Sales of adult trade books rose 2.4% in the first quarter of 2019, over the comparable period in 2018, while sales in the children/young adult category increased 9.7%.
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Wiley Has Lackluster Fiscal 2019 Results
A 7% sales decline in its publishing business offset gains in John Wiley's solutions division and a small gain in research, leading to a 1% sales increase in fiscal 2019 over 2018. Operating income fell 3%.
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Fiscal 2019 Results Up Educational Development Corp.
Net earnings rose 28.1% at EDC in the year ended February 28, 2019, over fiscal 2018, while sales increased 6.1%.
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Scholastic Lowers Revenue, Profit Forecast for Fiscal 2019
Citing issues in its book fair and book club businesses in the fourth quarter ended May 31, 2019, Scholastic said it expects sales and earnings for fiscal 2019 to be below previous forecasts.
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Sales, Earnings Up at Bloomsbury in Fiscal 2019
Strong revenue gains in the U.K. publisher's academic and professional division offset declines in its children's trade group.
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Earnings Jumped 29% in Q3 at HarperCollins
Strong sales of Christian books, backlist titles, and downloadable audiobooks led to a 29% increase in earnings at HarperCollins in the quarter ended March 31, 2019, over the comparable period last year.
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Trade Sales, Earnings Up in Q1 at HMH
Led by higher licensing revenue, sales at HMH Books & Media rose 11.2% in the first quarter of 2019 over the comparable period in 2018. Sales of print books fell in the quarter.
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HBG Has Q1 Sales Gain
Revenue at Hachette Book Group rose 3.3% in the first quarter ended March 31, 2019, over the comparable period in 2018.
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Operating Income Soars at Amazon
The e-tailer's operating income jumped in the first quarter of 2019, rising to $4.4 billion, from $1.9 billion, in the first period of 2018.
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Trade Books Post Good February Sales
Sales of adult trade books rose 6.6% in February over February 2018 after slumping in January, while sales of children/young adult books had a second consecutive month of good sales increases, according to the AAP.
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Book Sales Flat at Hudson in 2018
While sales in Hudson Group's literature category dropped 5% in 2018 compared to 2017, book sales were about flat with 2017. Hudson operates about 60 bookstores in airports and sells books in another 500 of Hudson's 1,082 locations.
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Sales, Earnings Rose at PRH in 2018
Revenue at Penguin Random House rose 1.9% in 2018 over 2017 and earnings increased 1.3%. PRH global CEO Markus Dohle said he expects to see more gains in 2019 due in part to more increases in digital audio sales and expanding global book markets.
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Scholastic Q3 Revenue Boosted by Trade Group
Revenue rose 4% at Scholastic in the third quarter of fiscal 2019 over the comparable period a year ago, but higher costs caused the publisher to say its earnings for the full year will come in at the lower end of its forecast.
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Adult Trade Sales Down in January, Kids' Up
Sales of adult trade books fell 7.3% in January compared to the first month of 2018, according to the AAP’s StatShot program. Sales in the children’s/young adult category rose 4.3%.
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Profits Fell at Lagardère Publishing in 2018, But Rose at HBG
Earnings at Lagardère Publishing fell 9.6% in 2018 compared to 2017, but increased at its U.S. subsidiary, Hachette Book Group, where sales were up 3.7%.
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F+W Media Files Chapter 11, Will Sell Assets
A failed attempt to shift the magazine and book publisher's business to an e-commerce model has led F+W to sell both its books division, which has revenues of $22 million, and It's communities group, which had sales of almost $68 million.
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