-
Deal Reached in HarperCollins Strike as Publisher Has Another Bad Quarter
HarperCollins has reached a tentative agreement with its striking union that includes an unspecified increase in minimum salaries. The deal was announced shortly after the publisher reported that sales fell 14% in the quarter ended December 31, and that profits plunged 52%.
-
Online Sales Stall at Amazon, More Layoffs Coming
Revenue rose at Amazon in 2022 over 2021, but profits declined, with sales in the company's online business falling for the fourth time in five quarters. The company plans to cut 18,000 jobs worldwide.
-
Skybound Goes Direct to the Public for Investment
Skybound Entertainment has launched a massive campaign to raise up to $75 million directly from the public via a Regulation A investment round on the Republic equity crowdfunding platform.
-
Book Sales in All Categories Fell in November
Sales in both the adult and children's/young adult categories fell by double digits in November, due in part to soft hardcover sales.
-
Print Book Sales Fell 6.5% in 2022
After two years of surprisingly strong sales during the pandemic, unit sales of print books fell 6.5% in 2022 compared to 2021 at outlets that report to NPD BookScan.
-
EDC Works to Rebound
Educational Development Corp. continues to work through a host of issues since its sales and earnings peaked in the fiscal year ended February 28, 2021.
-
October Was a Rough Month for Publishing Industry Sales
With sales in the adult books and children’s/young adult categories falling 16.4% and 9.9%, respectively, total industry sales dropped 9.3% in October from a year ago for the 1,370 publishers that report results to AAP’s StatShot program.
-
Scholastic Posts Second-Quarter Double-Digit Gains in Sales and Earnings
A 19% increase in Scholastic's children's book publishing and distribution segment drove total sales up 12% in the second quarter, while operating income rose 20%.
-
Sales Fall in Q2 as Wiley Lowers Sales Forecast for Year
Sales fell 3% at John Wiley in the second quarter ended October 31, largely due to a 14% revenue decline in its academic and publishing learning group. Trouble in the group prompted the company to lower its revenue forecast for fiscal 2023, though its earnings predictions remained intact.
-
Publishing Industry Sales Down 4.5% Through September
Total publishing industry sales fell 4.5% through September compared to 2021, with trade sales down 3.3%, at the 1,368 publishers that report revenue to the AAP’s StatShot program. Lower hardcover sales and higher returns were the main drivers in pushing down trade sales.
-
New Report Finds NYC Publishing, Bookselling Jobs Fell Between 2010 and 2020
In a report designed to measure the economic impact of NYC's various publishing segments, the first-of-its-kind study found that the number of book publishing jobs dipped 1.7% between 2010 and 2020, while bookselling jobs tumbled 37.1%. The average book publishing salary was $119,000, compared to a $39,000 wage for booksellers.
-
Book Sales Continued to Struggle in August
Book sales fell 9% in August compared to a year ago at the 1,367 publishers who report data to AAP’s StatShot program. All segments had declines in the month, with sales of adult books down 9.3% and sales of children’s/young adult books declining 10.9%.
-
Profits, Sales Tumble at HarperCollins
Sales dropped 11% and profits plunged 54% in the quarter ended September 30 at HarperCollins. Much lower sales of print books through Amazon impacted the revenue decline, and higher costs across the board contributed to the profit drop.
-
S&S Sales Up 10% in Q3, but Profits Are Flat
Though its third-quarter results slowed compared to the first half of 2022, Simon & Schuster remains on track to have a record year, which CEO Jonathan Karp attributed to employees' ability to stay focused on books despite the company being for sale for more than two years.
-
Third Quarter Revenue Rose at Hachette Book Group
Helped by the popularity of Colleen Hoover's 'Verity,' revenue at Hachette Book Group rose 4.7% in the third quarter over 2021—a gain that does not include results from Workman Publishing, which HBG bought last September.
-
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.
-
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.
-
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.
-
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.
-
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.
Browse archive by date:
