Slowing PDL Slows HC
HarperCollin's Zondervan unit sold about two million fewer copies of The Purpose-Driven Life in this year's third quarter than in the comparable period in fiscal 2004; that was a major factor behind HC's 6.5% sales decline, to $300 million, in the period. Profits fell 17%, to $30 million. HC CEO Jane Friedman says with the slowing sales of PDL, children's books was HC's best-performing division in the U.S. last quarter.
Friedman has high hopes for HC's new speakers bureau, which was also announced last week. The bureau will arrange paid appearances for HC authors.
Hastings's Book Sales Inch Up
Book sales at Hastings Entertainment rose 2% in the fiscal year ended January 31, to approximately $119 million. Books accounted for 22% of Hastings's total sales of $542 million. Videogames was Hastings's fastest-growing category last year, representing 8% of sales, up from 6% in 2003. Hastings also noted that it plans to roll out used books to more stores this summer, following a successful test at six outlets. Hastings will limit the number of used books to 12,000 per store; its largest stores carry 73,000 new titles.
Lion King
Andrew Sean Greer was presented with the New York Public Library's 2005 Young Lions Fiction award at a ceremony in New York City last week. Greer won for The Confessions of Max Tivoli, published by Farrar, Straus & Giroux.
Harlequin Sales Fall
Harlequin's struggles continued in the first quarter of 2005, with sales falling 5.7%, to C$129.2 million ($102 million). Profits also fell 5.7% in the period, dropping to C$24.6 million. Sales and earnings were both off in the company's North American market, with retail sales down C$2 million and direct-to-consumer sales off C$1.3 million. Harlequin said sales were down for both its series and single titles.
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Okay Quarter For RD
Reader's Digest's third-quarter revenue came in close to expectations, with sales falling 3%, to $545 million. One-time charges of $142 million resulted in an operating loss of $126 million in the quarter, compared to operating income of $19 million in the third quarter of fiscal 2004. A significant portion of the charges was related to the write-down of the value of Books Are Fun, which RD bought for $393 million in 1999. In the quarter, sales at BAF fell 10% and profits were also down.
PowerHouse Adds On
PowerHouse Books is adding two small imprints to complement its list of art, photography and street-culture titles. PowerHouse Kids will debut this fall with a list led by prolific children's author Joy Berry. A second imprint, Miss Rosen's Editions, focusing on street culture, will be headed by PowerHouse publicity director Sara Rosen.
Big Deal for Hyperion Kids
Hyperion Books for Children has signed author-illustrator Lane Smith for a rumored $600,000 to write and illustrate John, Paul, George & Ben, a book about the childhoods of the nation's founding fathers. Smith is best known for his collaborations with Jon Scieszka; the team's newest work, Seen Art?, was released by Viking last week.
Crystal Correction, etc.
We misidentified the publisher of Billy Crystal's forthcoming 700 Sundays. Warner Books will publish the book based on his one-man Broadway show. Crystal is hosting Thursday's BEA Opening Night Celebration.
In last week's "Best Books at BEA" feature, we misspelled the name of the author of Julie and Julia. She is Julie Powell.
Last week's chart about publicists leaping to other jobs incorrectly referred to Random House publisher Gina Centrello as a former publicity director; she has served as associate publisher in her career, but was never a publicist. In addition, Paul Slovak was mislabeled as Viking director of publicity. He's currently v-p, publicity. Carolyn Coleburn directs Viking's publicity department.
