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Amazon Sees Slow Growth in Fourth Quarter
Since the summer, many publishers have reported lower orders from Amazon compared to a year ago, and the release of the e-commerce giant’s third-quarter results gave no indication that things will markedly improve in the final period.
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Hoover Can't Stop Weekly Sales Slide
Blockbuster first-week sales of Colleen Hoover’s 'It Starts with Us' was not enough to prevent unit sales of print books from falling 9.1% last week compared to the week ended October 23, 2021.
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Publishing Sales Fell in July
July was a bad month for publishing, with sales falling 14.9% from a year ago for the 1,368 publishers who report to AAP’s StatShot program.
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Print Sales Fell 4% Last Week
Unit sales of print books declined 4.2% last week, as good debuts in adult fiction were not enough to offset declines in adult nonfiction and children's fiction.
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Rising Costs Deepen First Quarter Loss at Scholastic
Higher costs increased Scholastic's first quarter loss to $58.1 million, from $32 million in the first quarter of fiscal 2022, despite a 1.2% increase in sales. The results were "on plan," the publisher said, adding that it still expects sales and earnings in fiscal 2023 to rise over fiscal 2022.
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Publishing Industry Sales Rose by $3 Billion in 2021
Final sales numbers for 2021 from the Association of American Publishers show a 12.3% increase in industry sales, with total sales hitting $29.33 billion, up from $26.1 billion in 2020. Easing of the pandemic in 2021 had a significant impact on industry results.
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Higher Costs Contribute to First Quarter Loss at Wiley
Sales at Wiley were flat in the quarter ended July 31, 2022, but restructuring charges and higher costs, including higher T&E charges, led to an operating loss of $17 million.
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Earnings Fell in the First Half of 2022 at PRH
High inflation and supply chain challenges combined to drop earnings at Penguin Random House 20.7% in the first half of 2022 compared to a year ago. Revenue rose 6.2%, to €1.92 billion, but even there the news was disappointing with parent company Bertelsmann noting that excluding the favorable impact of currency exchange, sales declined from 2021.
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Quarto Posts Big Jump in Profits
Quarto Group reported that revenue rose 9% in the first six months of 2022 over the comparable period in 2021, to $61.9 million, and net income jumped 124%, to $4.7 million.
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Trade Publishing Sales Flat in First Half of 2022
A 2.6% decline in sales of adult titles was offset by a 4.3% increase in sales of children’s/YA books in the first six months of 2022 compared to the first half of 2021. According to AAP's StatShot program, trade sales were $3.82 billion in the first half of the year, compared to $3.84 billion in the first six months of 2021.
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HC Sales Topped $2 Billion in Fiscal 2022
Sales rose 10% at HarperCollins, to $2.19 billion, in the fiscal year ended June 30, 2022, but higher costs limited the increase in profits to 1%.
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Sales, Profits Skyrocket at S&S in Q2
Second quarter sales jumped 34% over last year’s second quarter at Simon & Schuster, and operating income leapt 54%. The strong results followed a first quarter which CEO Jonathan Karp said "defied gravity."
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May Sales Were Soft, AAP Reports
In the AAP’s newest StatShot update, May trade sales were mixed and sales of higher educational course materials fell, leading to a 3.7% sales decline compared to May 2021 for the 1,368 publishers that report sales to the association.
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Online Sales Fell 4% at Amazon
Sales in Amazon's online business fell 4% in the second quarter ended June 30, 2022, to $50.8 billion. Analysts attributed the decline to more people shopping in physical stores as well as an overall slowdown in consumer spending.
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Higher Costs Drop Profits at Hachette
Revenue for Lagardère Publishing rose 7.7% in the first-half 2022 over 2021, but earnings fell 29% due higher production, transportation, and labor costs. Results at HBG followed a similar pattern.
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Sales, Earnings Rebounded in Fiscal 2022 at Scholastic
Following a soft fiscal 2021, a 162% increase in its book fair business and strong demand for its educational offerings drove sales up 26% in fiscal 2022 at Scholastic.
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A Bad Period for EDC
After posting record financial results a year ago, sales at Educational Development Corp. plunged 43%, in the quarter ended May 31, 2022, and the company reported quarterly net income of $216,000, compared to $3.4 million last year.
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Industry Sales Fell 12.6% in April
With sales in all categories falling, publishers who provide results to AAP’s StatShot program reported a 12.6% decline in sales in April compared to a year ago, resulting in a 2.3% drop in industry sales through the first four months of 2021.
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Comics/Graphic Novel Sales Jumped 62% in 2021
Sales of comics and graphic novels rose 62% in 2021 over 2020, according to a new joint estimate by ICv2 and Comichron. Total comics and graphic novel sales to consumers in 2021 in the U.S. and Canada were approximately $2.07 billion.
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Barnes & Noble Education Sees Improvement
Following a poor fiscal 2021, B&N Education mitigated its losses in fiscal 2022 as sales rose, but acknowledged that Covid was one of a host of issues its faced in the year.
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