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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Bertrams has increased its underlying profit by a third and revenue by 25% following the merger... Continue reading at The Bookseller
[ The Bookseller | 2012-04-24 00:00:00 UTC ]
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Increased investment in digital and a reduction in stock ahead of a new distribution agreement... Continue reading at The Bookseller
[ The Bookseller | 2012-04-17 00:00:00 UTC ]
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#distribution agreement
Educational publisher and FT owner, Pearson reports a rise in profits thanks to improved digital sales and growth in emerging markets. Continue reading at BBC News
[ BBC News | 2012-02-27 00:00:00 UTC ]
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International co-edition publisher Quarto has pledged to "redouble" its efforts to... Continue reading at The Bookseller
[ The Bookseller | 2012-02-21 00:00:00 UTC ]
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Profit at US bookseller Barnes & Noble sank 12% in the third quarter, despite both physical... Continue reading at The Bookseller
[ The Bookseller | 2012-02-21 00:00:00 UTC ]
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Since ebooks first became a meaningful part of a publisher’s business in 2009, results at Simon & Schuster have followed a familiar pattern—a decline in revenue but an increase in earnings. Between 2009 and 2011, total sales at S&S dipped 0.7%, but adjusted operating income has jumped... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-02-17 00:00:00 UTC ]
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Elsevier increased sales and profit in 2011 as the company said the decline in print sales was... Continue reading at The Bookseller
[ The Bookseller | 2012-02-16 00:00:00 UTC ]
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#print sales
Twenty years after he founded the indie San Francisco press Berrett-Koehler Publishers, Steve Piersanti continues to stay focused on the company’s original mission of stewardship and socially responsible publishing practices. That commitment has led B-K to be profitable for nine years in a row,... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-01-13 00:00:00 UTC ]
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Foyles has reported a third year of profitable trading, despite "deep concern" about... Continue reading at The Bookseller
[ The Bookseller | 2011-12-21 00:00:00 UTC ]
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The HMV Group made a profit of £11.5m from the sale of book chain Waterstone's, but the... Continue reading at The Bookseller
[ The Bookseller | 2011-12-19 00:00:00 UTC ]
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Sales and profit have fallen in the last year at book wholesaler Gardners but the company said it... Continue reading at The Bookseller
[ The Bookseller | 2011-12-08 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Wed, 26/10/2011 - 10:05 Amazons profits have dropped by 73% in its third quarter, with the company's investment in its Kindle e-readers blamed for the slump. In the three months to 30th September, net income fell from $231m (£144.4m) to $63m... Continue reading at The Bookseller
[ The Bookseller | 2011-10-26 00:00:00 UTC ]
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Written By: Philip Stone Publication Date: Tue, 25/10/2011 - 15:51 Terry Pratchett's Snuff (Doubleday) was narrowly the bestselling book in the UK last week, outselling Martina Cole's 18th novel, The Faithless (Headline), by just 768 copies. Snuff, which last week became the fastest-selling... Continue reading at The Bookseller
[ The Bookseller | 2011-10-25 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Thu, 20/10/2011 - 09:00 Bertrams' sales and operating profit has dropped marginally in the last year while the book wholesaler said its merger with Dawson Books will increase revenues by a third. read more Continue reading at The Bookseller
[ The Bookseller | 2011-10-20 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Wed, 19/10/2011 - 09:34 The thrice-denied Julian Barnes has been lauded in the press for finally winning the Man Booker prize with his The Sense of an Ending. The Guardian warmly welcomed the decision. Claire Armistead said: "To those who believe the... Continue reading at The Bookseller
[ The Bookseller | 2011-10-19 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Wed, 19/10/2011 - 15:02 Random House is now reprinting 125,000 copies of Jonathan Cape's Booker-winning The Sense of An Ending, signing off a further 50,000 copies in addition to the initial 75,000 copy reprint. Vintage sales director Tom... Continue reading at The Bookseller
[ The Bookseller | 2011-10-19 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Thu, 20/10/2011 - 08:45 Alma Books is planning to hire more staff and expand its non-fiction and YA lists, after reversing a loss made in its 2009 financial year. read more Continue reading at The Bookseller
[ The Bookseller | 2011-10-19 00:00:00 UTC ]
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Written By: Bookseller Staff Publication Date: Tue, 18/10/2011 - 20:00 Julian Barnes has won the Man Booker Prize for his novel The Sense of an Ending (Cape). The author beat a shortlist comprising Carol Birch's Jamrach's Menagerie (Canongate); Esi Edugyan's Half Blood Blues (Serpent's Tail);... Continue reading at The Bookseller
[ The Bookseller | 2011-10-18 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Mon, 17/10/2011 - 14:30 Julian Barnes is the bookies' favourite to win the Man Booker prize tomorrow night (18th October), as Amazon has revealed his novel The Sense of an Ending is also leading Kindle downloads among the shortlisted authors.... Continue reading at The Bookseller
[ The Bookseller | 2011-10-17 00:00:00 UTC ]
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Hearst Magazines, the publisher of Cosmopolitan and Esquire, has reported pre-tax profits of £12.4m for 2010, more than nine times its profit of £1.3m reported in 2009. Continue reading at Media Week
[ Media Week | 2011-10-04 00:00:00 UTC ]
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