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Scholastic Cuts Loss Despite Sales Drop
Gains in its educational technology group were not enough to offset declines in the children’s book publishing and distribution unit resulting in a 5.8% decline in total sales at Scholastic for the first quarter ended August 31.
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Riggio Addresses B&N Annual Meeting
In his first public appearance since he declined to purchase the B&N retail stores, B&N chair and founder Len Riggio responded to questions on B&N strategy in the wake of continuing Nook device losses and on his no-buy decision during the B&N annual shareholder meeting.
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Wiley Has Earnings Dip on Flat Sales
Sales were flat and operating income fell 9% in the first quarter ended July 31, 2013 at John Wiley.
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Industry Stocks: August Performers
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A Profitable Six Months for Most Publishers
Although the growth of e-book sales has slowed in the first six months of 2013, there were still enough gains to largely mitigate the decline in print sales.
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Profits Rise at RH Despite Sales Decline
Random House parent company Bertelsmann reported this morning that profits at RH rose to 117 million euros from 113 million euros in the first half of 2012 despite a 3.4% sales decline to 915 million euros.
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Sales, Profits Up at Lagardere Publishing
Total sales at Lagardere Publishing rose 1.4% in the first half of 2013, to 917 million euros, while EBIT increased 24.6% to 71 million euros.
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Soft April for Adult, Children Sales
April adult book sales fell 4.0% compared to last April, while sales in the children’s/young adult segment dropped 33.1%, according to figures released in AAP’s StatShot program.
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B&N Not Selling Retail Business; Outlines New Strategies
In a conference call B&N executives cited the importance of device production to content providers, pointed to the advantages of its physical stores in conjunction with digital distribution and outlined new strategies to address mounting Nook Media losses.
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B&N Reports $87M First Quarter Loss; Riggio Stands Firm
B&N chair Len Riggio is not buying the B&N retail business—at least not yet. B&N reported a fiscal 2014 first quarter consolidated loss of $87 million, up from the $40 million loss reported for the same period in 2013.
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Hastings Reports $4.1M Second Quarter Loss
Multimedia retailer Hastings Entertainment reported a net loss of approximately $4.1 million for the three month period ending July 31, 2013, an increase over the same period in 2012. Comparable store results for books at Hastings are also down 14.9% from the same period in 2012.
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NewSpring Capital Leads $11M Investment in Open Road Media
E-book publisher and digital marketer Open Road Integrated Media announced that it has received $11 million in Series C equity financing led by an $8 Million investment from NewSpring Capital.
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Chegg by the Numbers
Chegg, the academic company, was founded in 2005.
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Sales Rise at HMH, Loss Cut
With sale up in both its education and trade groups, total revenue at Houghton Mifflin Harcourt rose 5% in the second quarter ended June 30, 2013 compared to the second quarter of 2012.
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Quarto Results Hit Expectations
The Quarto Group reported a small decline in sales for the six month period ended June 30, with revenue falling to $72.2 million from $73.2 million in the comparable period last year, while operating profit inched ahead to $4.0 million from $3.9 million.
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HMH Shareholders Want IPO
In a report posted on its Web site, Houghton Mifflin Harcourt said that it received a notice from stockholders of at least 25% of its stock that the company begin the process of starting an initial public offering.
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Industry Stocks: July Performers
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Manufacturing Gains Offset Publishing Declines at Courier
An 11% increase in its manufacturing segment offset a 3% decline in its publishing group leading to an overall 9% revenue increase at Courier Corp. for the third quarter ended June 29 with sales hitting $64.1 million.
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Second Quarter Earnings Jump at S&S
Second quarter sales at Simon & Schuster held even at $189 million in the period ended June 30, 2013, while operating income jumped to $20 million from $7 million in last year’s second quarter.
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Sales, Earnings Down at Harlequin
Revenue fell 7% at Harlequin in the second quarter ended June 30, to C$99.5 million, and operating earnings dropped to C$10.5 million from C$18.1 million in the second quarter of 2012.



