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A Record Year for Publishing Stocks—With a Caveat
A year that found four of the 10 companies on the PW Stock Index seeing double-digit stock price increases also saw Barnes & Noble and other big names struggle.
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Adult Trade Sales Dipped in August
Sales of adult books slipped 0.3% in August in 2017 compared to a year ago, while sales in the children’s/young adult segment rose 2.9% in the month.
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Scholastic Q2 Sales, Earnings Fall
Scholastic second quarter results held no surprises: sales and earnings fell compared to a year ago due to the lack of a new Harry Potter title.
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Acquisitions Lift Q2 Results at B&N Education
As sales from textbooks continued to decline in Barnes & Noble Education's second quarter ended October 28, 2017 compared to a year ago, two purchases made in the calendar year boosted sales and earnings.
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Riggio Ups B&N Stake
Following Barnes & Noble's disappointing financial performance for the second quarter ended October 28, 2017, company chairman Len Riggio bought 1 million shares of company stock, raising his stake in B&N to 19.3%.
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B&N Has Disappointing Second Quarter
In the second quarter of fiscal 2018, sales at Barnes & Noble dropped 7.9% compared to a year ago and its loss widened to $30.1 million from $20.4 million in last year's second quarter. Book sales, however, were a bright spot.
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Units Drop 3% In Thanksgiving Week
Print unit sales were down 9% to mass merchandisers, and off 1% in the retail and club channel, in the Thanksgiving week.
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Soft July for Trade Sales
Sales in the children’s/young adult segment fell 36.8% in July, compared to same period a year ago, according to figures release by the AAP. The decline is due, in large part, to the fact that July 2017 did not see a hit like July 2016, when 'Harry Potter and the Cursed Child' was dominating bestseller lists.
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Q3 Sales Dip at HBG
Sales at Hachette Book Group fell 2.8% in the third quarter ended September 30, but were still up 2.2% for the first nine months of 2017.
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Publishing Sales Down at Salem Media
Third quarter sales in Salem Media Group's publishing division, which includes Regnery Press and two self-publishing businesses, fell 20.7%, compared to the third quarter of 2016.
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Sales, Earnings Rise at HarperCollins
Revenue at HarperCollins rose 3% in the quarter ended September 30, compared to the same quarter a year ago. Earnings at the publisher, according parent company News Corp, increased 4%.
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Quarto Says Profits Will Miss 2017 Target
The Quarto Group issued its second profit update of 2017, stating this morning that despite improved sales in the second half of the year, the publisher’s pre-tax profits will be “significantly lower than board expectations.”
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Industry Stocks: October 2017 Performances
Led by big gains for three companies, the Publishers Weekly Stock Index rose 12.2% in October.
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Print, Audio Drive Gains at S&S in Q3
Simon & Schuster saw sales of print books post gains while sales of downloadable audio rose about 25% in the third quarter ended September 30, 2017. E-book sales fell again.
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With Strong Q3, HMH Trade Sales Continue to Roll
Sales in the period for Houghton Mifflin Harcourt's trade group rose 11.7%, over the comparable period in 2016. The publisher said the gain was thanks, in large part, to a jump in sales of both print and digital books. Sales in HMH's education segment fell by $6 million.
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Adult Trade, Children's Categories Posted Six-Month Gains
Sales of adult trade book rose 3.1% in the first six months of 2017 over the comparable period in 2016, according to figures released by the AAP. Sales of children’s/young adult books increased 4.5% over the first half of 2016.
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Whole Foods Adds Nearly $1.3 Billion to Amazon
In addition to adding $1.28 billion in revenue from its August purchase of the grocery chain, online sales at Amazon rose 22% in the third quarter over the comparable period a year ago.
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Bloomsbury Poised for Good Year
Led by strong sales in its children's group, where the sale of Harry Potter titles drove a 40% gain, total revenue at the U.K.-based company jumped 15% in the six months ended August 31.
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Sales Slip at EDC, But Profits Jump
Educational Development Corp., which has had explosive sales growth over the last two years, saw sales fall 6.6% in the second quarter ended August 31. Net income, however, tripled.
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PRH Nine-Month Sales 'Down Slightly,' Pearson Says
Pearson attributed the small sales decline to what are now familiar trends--stable sales of print and audio offset by modest declines in e-book sales.
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