November Bookstore Sales Rise
In November, bookstore sales posted their first monthly increase since January. The U.S. Census Bureau reports preliminary November sales rose 5.3%, to $1.09 billion. Results could reflect the increase in digital reading devices sold by bookstores, especially at Barnes & Noble. For the 11 months, sales were down 1.9%.
Borders Cuts 15 Spots
Following last week's meeting with publishers about its refinancing and restructuring plan—including acceptance of a three-year note in exchange for missed payments—Borders eliminated 15 field manager positions. Borders is said to need publisher approval of its plan before the end of the month.
DBD Halts Shipments to Borders
After notifying its publishers that Borders had stopped making payments, Diamond Book Distributors said it made the decision to suspend book shipments to the retailer.
2011 Kids' Prize Winners
Clare Vanderpool's Moon Over Manifest (Delacorte) won the 2011 Newbery Medal; Erin E. Stead's A Sick Day for Amos McGee (Roaring Brook/Porter), written by Philip C. Stead, won the Randolph Caldecott Medal; and Paolo Bacigalupi's Ship Breaker (Little, Brown) won the Michael L. Printz Award.
Lehman Out at Twelve
After only five months, Hachette has replaced Twelve publisher Susan Lehman with Cary Goldstein, formerly the associate publisher. Lehman had little book experience when tabbed by Grand Central executive v-p and publisher Jamie Raab, who said Lehman "just wasn't the perfect fit."
Key Porter Suspended
Canadian house Key Porter Books said that it was "temporarily suspending" publishing operations and considering "the sale of certain titles." The house continues to market and sell previously published works, which are distributed by parent company H.B. Fenn and Company Ltd.
NBN Cuts Seven Positions
Realigning its sales force to focus on special markets and digital, National Book Network has cut seven positions, NBN president Rich Freese said the move reflected "the realities of the marketplace."
Sarnoff Leaving Bertelsmann
Bertelsmann and Random House executive Richard Sarnoff will leave his position as president of Bertelsmann Digital Media Investments to join Kohlberg Kravis Roberts.