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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The charitable arm of education publisher Pearson, the Pearson Foundation, will pay $7.7m (... Continue reading at The Bookseller
[ The Bookseller | 2013-12-13 00:00:00 UTC ]
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From the Frankfurt Book Fair, Ed Nawotka wonders, why have so many startups in publishing never made it beyond beta? Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-10-09 00:00:00 UTC ]
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Quercus has recorded a 10.9% rise in turnover to £10.2m for the six months to end June 2013... Continue reading at The Bookseller
[ The Bookseller | 2013-09-26 00:00:00 UTC ]
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Haynes Publishing Group has reported falls in revenue and profit in its results for the year... Continue reading at The Bookseller
[ The Bookseller | 2013-09-23 00:00:00 UTC ]
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Thanks to bestsellers like Dan Brown's Inferno and Sheryl Sandberg's Lean In, Random House Inc. boasted record profits for the first half of 2013, parent company Bertelsmann reported Friday in what will be the last earnings announcement for the publisher as a stand-alone unit. Sales, however,... Continue reading at Crains New York
[ Crains New York | 2013-08-30 00:00:00 UTC ]
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Although the growth of ebook sales has slowed in the first six months of 2013, there were still enough gains to largely mitigate the decline in print sales. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-08-30 00:00:00 UTC ]
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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. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-08-30 00:00:00 UTC ]
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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. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-08-29 00:00:00 UTC ]
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The latest longlist for the biennial Warwick Prize for Writing (£25,000) has pitted... Continue reading at The Bookseller
[ The Bookseller | 2013-06-19 00:00:00 UTC ]
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The Amazon-owned Book Depository made a pre-tax profit of more than £15m in 2012 after... Continue reading at The Bookseller
[ The Bookseller | 2013-06-13 00:00:00 UTC ]
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Apple cost readers hundreds of million of dollars by conspiring with five major publishers to fix prices, government says. Apple says the antitrust case is bizarre. NEW YORK — Apple Inc. and five major publishers conspired to fix prices on ebooks, costing consumers hundreds of millions of... Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-06-04 00:00:00 UTC ]
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Random House parent Bertelsmann has made "significant strides" in implementing its... Continue reading at The Bookseller
[ The Bookseller | 2013-05-16 00:00:00 UTC ]
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Profits at Simon & Schuster have risen in the in the first quarter of 2013, despite a fall in... Continue reading at The Bookseller
[ The Bookseller | 2013-05-02 00:00:00 UTC ]
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E-book sales had a major impact on all of the major trade publishers' 2012 performance, with Random House coming out the biggest winner thanks to the success of the 50 Shades trilogy. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-03-29 00:00:00 UTC ]
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Reed Elsevier has reported revenue and pre-tax profit growth in 2012, with the company saying it... Continue reading at The Bookseller
[ The Bookseller | 2013-02-28 00:00:00 UTC ]
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The Penguin Group saw a 1% rise in sales to £1.05bn in 2012 (£1.04bn in 2011).... Continue reading at The Bookseller
[ The Bookseller | 2013-02-25 00:00:00 UTC ]
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Australian publisher APN has posted a profit after tax before exceptional items of A$54m (€42m) for the year ended 2012 in line with expectations. The company said that net debt has been reduced by A$180m while cost initiatives delivered sa ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-02-22 00:00:00 UTC ]
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Quercus has reported that it expects profit before tax in the year to 31st December 2012 to be... Continue reading at The Bookseller
[ The Bookseller | 2013-01-25 00:00:00 UTC ]
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Penguin UK c.e.o. Tom Weldon has said he expects at least 15% of Penguin's profit... Continue reading at The Bookseller
[ The Bookseller | 2013-01-18 00:00:00 UTC ]
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Bloomsbury has reported a year-on-year profit boost in the final quarter of 2012, at the same... Continue reading at The Bookseller
[ The Bookseller | 2013-01-16 00:00:00 UTC ]
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