Barnes & Noble returned to a profit in the fiscal second quarter as it invested less in its Nook ebook reader and cost cuts offset lower sales.Its sales missed expectations, however, and its shares dropped more than 3% in premarket trading. The report comes as the crucial holiday season kicks off, when retailers can make up to 40% of their annual revenue."Our booksellers are prepared to welcome holiday shoppers and recommend thoughtful gift ideas for everyone on their list," said Michael P. Huseby, president of Barnes & Noble and CEO of Nook Media.The company has spent heavily on building up its Nook ebook reader and digital library, but it has scaled back amid tough competition from Amazon's Kindle and the Apple iPad. It has been reviewing its strategy since CEO William Lynch departed in June and the company did not name a replacement. It introduced a new non-tablet ebook reader, a $119 Nook GlowLight, for the holidays.Net income for the three months ended Oct. 26 totaled $13.2 million, or 15 cents per share. That compares with a loss of $501,000, or 7 cents per share, last year.Revenue fell 8% to $1.73 billion from $1.88 billion last year. Analysts expected a loss of 3 cents per share on revenue of $1.76 billion, according to FactSet.Revenue fell across all segments. Retail revenue fell nearly 8% to $921 million. College bookstore revenue fell 4.6% to $737.5 million and Nook revenue dropped 32% to $108.7 million.Shares fell 58 cents, or 3.5%, to $15.85 in... Continue reading at 'Crains New York'
[ Crains New York | 2013-11-26 00:00:00 UTC ]
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Amazon recently offered Hachette writers 100 percent of ebook profits until the dispute between the publisher and the bookselling giant is resolved. The move prompted criticism from Hachette. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-07-10 00:00:00 UTC ]
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Chipping Norton Literary Festival is to split its profits with authors in lieu of paying... Continue reading at The Bookseller
[ The Bookseller | 2014-07-07 00:00:00 UTC ]
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Simon Barnes, The Times's award-winning chief sportswriter, is leaving the newspaper after 32 years. He claims the publisher can no longer afford his wages, according to a Sports Journalists' Association report. The report cites Barnes's email message to Mark Avery in which he wrote:"I have no... Continue reading at The Guardian
[ The Guardian | 2014-06-27 00:00:00 UTC ]
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Dispute has also dragged in authors including JK Rowling and James PattersonIt is another mystery for inspector Rebus to solve. Why is Amazon UK selling Saints of the Shadow Bible, the latest instalment of Ian Rankin's best-selling series about the Edinburgh sleuth, for half the price being... Continue reading at The Guardian
[ The Guardian | 2014-05-28 00:00:00 UTC ]
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EBITDA rose 83% at HarperCollins for the third quarter of fiscal 2014 which ended March 31. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-08 00:00:00 UTC ]
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It wasn't too long ago that print was considered the center of the wheel from which all other product platforms sprang out of. That's still the case for most traditional publishers, but the newer product platforms are where all the action is now. Continue reading at Folio Magazine
[ Folio Magazine | 2014-03-13 00:00:00 UTC ]
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The leading French cultural product chain Fnac may have turned the corner financially,... Continue reading at The Bookseller
[ The Bookseller | 2014-02-28 00:00:00 UTC ]
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Publisher of Financial Times operating profits grow to £55m in 2013 as owner Pearson announces overall slump of 21%Pearson has reported a 21% slump in its overall operating profit for 2013, as its core US education business continues to be hit by the "worst trading conditions" seen in decades.... Continue reading at The Guardian
[ The Guardian | 2014-02-28 00:00:00 UTC ]
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Operating income at Simon & Schuster rose 32% in 2013, to $106 million on a sales increase of 2.4%, to $809 million, parent company CBS reported. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-12 00:00:00 UTC ]
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News Corp., the newspaper publisher that owns The Wall Street Journal and the New York Post, beat profit estimates and posted gains in real-estate services and book publishing, even as advertising... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2014-02-07 00:00:00 UTC ]
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At this year's annual meeting, the American Library Association (ALA) will confer the first annual Lemony Snicket Prize for Noble Librarians Faced with Adversity. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-02-05 00:00:00 UTC ]
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Total sales in Amazon’s fourth quarter in 2013 rose 20% over the last quarter of 2012, hitting $25.59 billion, while net income rose to $239 million from $97 million in last year’s final period. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-01-30 00:00:00 UTC ]
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Porter Anderson looks at Ian K. Ellard's concept of authors sharing profits with publishing-services experts in his winning essay at The Bookseller, The Toast. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-01-28 00:00:00 UTC ]
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As more readers favor Kindles and iPads over pulp-based books, Chantal Restivo-Alessi of HarperCollins is mining digital data to determine how publishers can maximize profits.Having worked at EMI records for over a decade, Chantal Restivo-Alessi knows what it's like to have the digitization of... Continue reading at Fast Company
[ Fast Company | 2014-01-23 00:00:00 UTC ]
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Radio Times, which accounts for 60% of its publisher's profits, is undergoing a transformation to woo younger readersWhile other magazine publishers chase the digital-savvy generation of under-25s Radio Times is swimming against the tide somewhat, targeting a slightly older, thirtysomething... Continue reading at The Guardian
[ The Guardian | 2014-01-20 00:00:00 UTC ]
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The Telegraph Media Group made more than £60m last year, The Guardian can reveal. It is the third successive year that the company has managed to increase its operating profit.TMG is expected to report what amounts to a record figure formally in the spring when it files its accounts for the full... Continue reading at The Guardian
[ The Guardian | 2014-01-10 00:00:00 UTC ]
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Local newspaper publisher says it faced tough market in 2013, but has made no closures or redundancies during the downturnSir Ray Tindle's newspaper group made a profit of £1.4m in the year to the end of March 2013, as the publisher reported that it has not closed any titles or forced any... Continue reading at The Guardian
[ The Guardian | 2014-01-03 00:00:00 UTC ]
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HarperCollins UK has seen a 66% drop in profits for the year ending 30th June 2013, according to... Continue reading at The Bookseller
[ The Bookseller | 2014-01-02 00:00:00 UTC ]
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Lonely Planet saw turnover marginally decrease in 2013 but its profit rose by 17.6% to £663... Continue reading at The Bookseller
[ The Bookseller | 2014-01-02 00:00:00 UTC ]
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In her year-end letter to employees, Simon & Schuster CEO Carolyn Reidy said that the publisher is on track to “deliver record profits, a healthy gain in revenues, and our best-ever margins.” Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-12-23 00:00:00 UTC ]
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