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Quarto to Close Minneapolis Office
Quarto Group said that as part of a companywide cost cutting program, it is shutting its Minneapolis office and closing its Voyageur Press imprint. The Cool Springs and Motorbooks imprints are continuing.
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Industry Sales Dipped 1.4% in First Half of 2018
The 2018 sales decline was mainly due to a 13.6% drop in sales in the K-12 instructional materials segment. The two main consumer categories had gains with adult book sales up 4.2% and children’s/young adult sales inching up 0.3% over the first half of 2017.
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Earnings Rose 23% at Wiley in Q1
Operating income rose 23.5% at John Wiley for the quarter ended July 31, over the comparable period a year ago.
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A Mixed Six Months for Large Trade Houses
The first six months of 2018 proved to be a mixed period for the five large trade publishers that report their financial results.
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Sales, Earnings Drop in First Half of 2018 at PRH
Revenue fell 3.3% in the first half of 2018 compared to a year ago at Penguin Random House, and earnings dropped 17%. The decline was attributed mainly to the negative impact of foreign exchange rates.
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B&N Education Sales Fall 5% in Q1, Loss Up Slightly
Barnes & Noble Education reported that revenue in the first quarter, ended July 28, fell to $337.5 million, down from $355.7 million a year ago.
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HC Posts Big Earnings Gain in Fiscal 2018
Capped by a blowout fourth quarter, HarperCollins reported that earnings for the fiscal year ended June 30, 2018 rose 23% over fiscal 2017, to $244 million. The earnings jump came on a 7% revenue rise, to $1.76 billion.
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Regnery Has Big Q2
Second quarter sales at Regnery rose 16.7% over 2017, but softness in Salem Media's self-publishing unit led to a 9% decline in total revenue at Salem's publishing division in the second period.
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S&S Posts Gains in Sales, Profits in Q2
Second quarter sales rose by $1 million at Simon & Schuster, and earnings increased by $2 million. Parent company CBS did not address sexual harassment charges against CEO Les Moonves in the conference call discussing results.
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HMH Trade Sales Down 15% in Q2
With sales of backlist and frontlist titles down, as well as a drop in e-book sales, revenue in HMH's trade division fell 15% In the second quarter ended June 30.
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Publishing Sales Rise 5.5% in First Four Months of 2018
Book publishing revenue increased 5.5% in the January to April period over the same period in 2017, according to figures released by the AAP as part of its StatShot statistics program. The year-to-date gains include a 4.4% sales increase in April over April 2017.
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HBG Posts Gains in Sales and Earnings in First half of 2018
Revenue in the first half of 2018 rose 1.4% over the comparable period in 2017 at the Hachette Book Group, parent company Lagardère reported, and profits rose by an unspecified amount.
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Amazon Profits Soar
For the quarter ended June 30, 2018, operating income at Amazon increased to $3.0 billion, compared with operating income of $628 million in the second quarter of 2017.
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Investment Group Acquires 5.7% Stake in B&N
The Schottenfeld Management Corp. has acquired over 4.1 million shares of Barnes & Noble and says in a filing that it has already talked to the retailer about actions it can take to improve shareholder value.
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2017 Sales Had Small Decline
Final estimates by the Association of American Publishers put total 2017 industry sales at $26.23 billion, down slightly from the $26.27 billion generated in 2016.
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Scholastic Sales and Earnings Dropped in Fiscal 2018
Blockbuster sales of 'Harry Potter and the Cursed Child' helped drive revenue to $1.74 billion in fiscal 2017, but without a comparable hit, sales fell 6% in the fiscal year ended May 31, 2018. Operating income dropped 38%.
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Print Unit Sales Rose 2% in First Half of 2018
With unit sales of print books rising 4% in the adult nonfiction segment—the industry’s largest major category—total unit sales for the first half of 2018 increased 2% over the comparable period in 2017 at outlets that report to NPD BookScan.
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OUP Reports Financial Dip in Fiscal 2018
Oxford University Press has reported a slight decline in revenue and net profit for the fiscal year ended March 31, 2018, compared to fiscal 2017.
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Acquisitions Boost Sales at B&N Education
Acquisitions offset declines in comparable store sales in the Barnes & Noble College Booksellers division of Barnes & Noble Education, leading to a 17.6% increase in sales at the company for the fiscal year ended April 28, 2018, over fiscal 2017.
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B&N Posted Loss of $125 Million on 6% Sales Drop in FY '18
Total sales at Barnes & Noble fell 6.0% in the fiscal year ended April 28, 2018, compared to fiscal 2017, and the retailer posted a net loss of $125.5 million last year, compared to net income of $22.0 million in fiscal 2017.
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