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Profits Fell 16% at HarperCollins
Higher manufacturing and freight costs, and ongoing supply chain and inflationary pressures, resulted in a 16% drop in earnings at HarperCollins for the quarter ended March 31, 2022. Sales rose 5%.
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S&S Defies Gravity in First Quarter
With earnings jumping 85% in the first quarter, Simon & Schuster CEO Jonathan Karp said he is pleased the publisher is "defying gravity" at the moment.
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A Bad First Quarter at Amazon
Amazon reported a net loss of $3.8 billion in the first quarter of 2022 as online sales fell 3%, to $51.1 billion.
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Sales Up in First Quarter at HBG
Excluding results from its purchase of Workman Publishing, sales at Hachette Book Group rose 2.2% over over the first quarter of 2021. Total revenue for all of Lagardere Publishing increased 1.7% excluding one-time items.
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U.K. Publishing Sales Rose 5% in 2021
Total book publishing sales rose 5% in 2021 over 2020, hitting £6.7 billion. Total sales in the U.K. rose 7%, to £2.7 billion, while export sales were up by a modest 2%, to £3.8 billion.
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Sourcebooks Has Record First Quarter Sales
Widespread changes made last year to such things as its supply chain, remote work, and efforts to reach consumers led to a point-of-purchase print unit sales increase of 36% at Sourcebooks in the first quarter of 2022 over the comparable period in 2021.
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Maas Book Boosts Bloomsbury's Bottom Line
Significant sales of Sarah J. Maas’s new fantasy novel, 'Crescent City: House of Sky and Breath,' prompted Bloomsbury to increase its full year guidance for the year ended February 28.
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PRH Had a Record Year in 2021
Revenue at Penguin Random House increased 6% in 2021 over 2020, to €4.0 billion, and earnings rose 9.2%, to €755 million. Sales at PRH US topped $2.5 billion.
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Scholastic Posts Gains in Q3, Eyes Higher Costs
Revenue at Scholastic rose 24% for the third quarter ended February 28, 2022, over the prior year period, and the company cut the quarterly operating loss. While sales trends remain favorable, the company said that it is working on ways to control higher prices for paper, printing, and freight, as well as higher labor and fuel costs.
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Quarto Group Posts Double-Digit Gains in Sales, Earnings
The launch of some new imprints and another good year for a number of its most popular series combined to boost sales at Quarto Group by 19%, to $151.5 million, in 2021 over 2020. Adjusted operating profit jumped 51%, to $ 16 million.
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Publishing Sales Had Small Gain in January
Led by a 44.1% increase in sales of K-12 instructional materials and double-digit gains in the children’s/young adult and religious press segments, industry sales rose 3.7% in January, according to AAP’s StatShot program.
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Wiley on Track to Top $2 Billion in Sales in Fiscal 2022
Despite a number of challenges, third quarter revenue at John Wiley rose 7% over the comparable period in fiscal 2021 and the company is poised to have sales exceed $2 billion for the first time in its history.
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HMH Posts Gains in 2021
Two days after announcing it had reached an agreement to sell itself to Veritas Capital, Houghton Million reported a 25% increase in revenue and a rebound in earnings.
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Lagardère Publishing Has Record Year
Total revenue rose 9.4% at Hachette Book Group parent Lagardère Publishing in 2021, and profits jumped 42.7% over 2020. HBG sales rose 3.7%, excluding the impact of its Workman Publishing acquisition.
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S&S Sales Neared $1 Billion in 2021
Sales at Simon & Schuster rose 10% over 2020 to just under $1 billion ($993 million) in 2021, and operating income jumped 52% to $213 million. “It was an extraordinary year for all of our groups,” CEO Jonathan Karp told ‘PW.’
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Reed Exhibitions Saw Improvement in 2021
Following a year in which the pandemic decimated its business, Reed Exhibitions reported a 48% increase in revenue in 2021 and upped its in-person fair count to 269, from 169 in 2020.
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Online Sales Fell 1% in Q4 at Amazon
Amazon’s online sales fell 1% in the fourth quarter ended December 31, 2021, compared to record highs in the fourth quarter of 2020. Operating income for the entire company dropped 50% in the quarter.
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Higher Costs Dent Earnings Gains at HarperCollins
Earnings in HarperCollins' second quarter ended December 31, 2021, rose 3% over a year ago, while sales increased 13%. The lower profits increase was due in part “to the increase in manufacturing and freight costs exacerbated by supply chain pressures,” parent company News Corp said.
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Unit Sales of Print Books Likely to Fall in 2022
After increasing 8% in 2020 and 9% in 2021, it is unlikely that unit sales of print books will grow again in 2022, said Kristen McLean, executive director and industry analyst for NPD/BookScan Books in a recent webinar. She noted the importance of several other trends, including the influence of BookTok and the growth in manga sales.
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Steinberger Reflects on 2021, an 'Extraordinary Year' at Open Road
A little more than one month after leading an investment group that acquired Open Road Integrated Media, David Steinberger sent a companywide email discussing what he called “an extraordinary year.”
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