Quad/Graphics Reports $12M Loss Amid Declining Sales in Q1

Quad/Graphics posted a net loss of $12.4 million in the first quarter of 2020, the Wisconsin-based commercial printer reported on Wednesday, a significant improvement over its $22.8 million net loss in Q1 of 2019. Net sales dropped 14.4% year-over-year to $823 million, the company said, a decline that was partially mitigated by a 13.5% reduction in operating expenses, which it executed by furloughing staffers (while preserving their medical benefits), reducing capital expenditures by 45%, suspending quarterly dividends and reducing the salaries of over 750 of its highest-paid employees. "Our first quarter performance exceeded our expectations until mid-March when we started to feel the initial disruption from COVID-19," said chairman, president and CEO Joel Quadracci, who added that he's taken a temporary 50% pay cut. "We were able to deliver strong first quarter results, in part, by taking early and swift action to align our cost structure to lower volumes in certain product categories, thereby protecting our balance sheet and preserving cash flow and liquidity. We have historically treated almost all costs as variable, and demonstrated our agility to react in real-time during the pandemic to reduce costs." Quad/Graphics withdrew its full-year 2020 financial guidance in early April, citing uncertainty in customer demand as a result of the pandemic. Magazines, catalogs and special interest publications combined to form about 30% of the company's overall net sales in... Continue reading at 'Folio Magazine'

[ Folio Magazine | 2020-05-06 18:09:12 UTC ]
News tagged with: #shelter-at-home orders #earnings report #lsc communications

Other Publishing stories related to: 'Quad/Graphics Reports $12M Loss Amid Declining Sales in Q1'


Quad/Graphics Reports $12M Loss Amid Declining Sales in Q1

Quad/Graphics posted a net loss of $12.4 million in the first quarter of 2020, the Wisconsin-based commercial printer reported on Wednesday, a significant improvement over its $22.8 million net loss in Q1 of 2019. Net sales dropped 14.4% year-over-year to $823 million, the company said, a... Continue reading at Folio Magazine

[ Folio Magazine | 2020-05-06 18:09:12 UTC ]
More news stories like this | News stories tagged with: #shelter-at-home orders #earnings report #lsc communications


Indigo Had C$49 Million Loss in Fiscal 2023 on Small Sales Decline

Indigo Books & Music, Canada's leading book retailer, reported that retail sales improved, as the company recovered from pandemic-era lockdowns, but online sales suffered, due in part to a cyberattack earlier this year. Markus Dohle has also joined the company board. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-06-27 04:00:00 UTC ]
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Harry Potter publisher Bloomsbury reports record sales amid reading boom

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[ The Guardian | 2022-06-15 08:09:40 UTC ]
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The Sun records £68m loss amid falling sales and hacking damages

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[ The Guardian | 2020-02-23 15:59:03 UTC ]
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Sales Up, Loss Cut in Q1 at Scholastic

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[ Publishers Weekly | 2019-09-20 04:00:00 UTC ]
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Q1 Sales Down at B&N, As Losses Rise

Barnes & Noble’s sales fell 6.9% in the quarter ended July 28, compared to the same period last year. The company did note, however, that the sales trend improved in each month of the quarter. Continue reading at Publishers Weekly

[ Publishers Weekly | 2018-09-06 00:00:00 UTC ]
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B&N Education Sales Fall 5% in Q1, Loss Up Slightly

Barnes & Noble Education reported that revenue in the first quarter, ended July 28, fell to $337.5 million, down from $355.7 million a year ago. Continue reading at Publishers Weekly

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Welsh-language novels 'enjoying golden age' despite reported sales decline

Despite news this week that sales had fallen dramatically, the Welsh Books Council’s chief says that the sector is showing real growthThe head of the Welsh Books Council (WBC) has hailed a “golden age for the Welsh-language novel” despite reports of a dramatic decline in sales.BBC Cymru Fyw... Continue reading at The Guardian

[ The Guardian | 2017-11-03 00:00:00 UTC ]
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Despite a Lift in Sales, B&NE Sees Losses Jump in Q1

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Despite Upswing in Sales, Quarto Reports Loss in 2016

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Earnings Up at HC in Q1, Despite Sales Decline

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B&N Reports Falling Sales in Fiscal 2017 Report

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[ Publishers Weekly | 2017-06-22 00:00:00 UTC ]
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Barnes & Noble Digital Sales Quadruple, Retail Sales Decline

Bookseller and newsstand provider Barnes and Noble had a strong first quarter with its digital content, sales in that channel quadrupled. Though digital sales have had some tenacious growth, sales at retail decreased by more than $25.7 million or 3 percent. Continue reading at Folio Magazine

[ Folio Magazine | 2011-08-31 00:00:00 UTC ]
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East Coast, Southern, and Chain Bookstores Report Strong Holiday Sales

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[ Publishers Weekly | 2024-01-11 05:00:00 UTC ]
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Deep Drop in Fiction Led a 3.2% Decline in Weekly Print Book Sales

Unit sales of print books fell 3.2% last week at outlets that report to Circana BookScan. The performance wasn’t a bad one—it was just unable to match the same period last year, when 'It Starts with Us' by Colleen Hoover sold more than 810,000 copies in its first week on sale. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-10-26 04:00:00 UTC ]
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British Academy Names a Shortlist; Reports on Sales Impact

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[ Publishing Perspectives | 2023-09-12 12:57:48 UTC ]
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Indigo Loses CEO, Reports Sales Drop, Relaunches Website

Peter Ruis has resigned as CEO of Indigo Books & Music, a position he held for a year. The news comes after the retirement of founder Heather Reisman, a boardroom shake-up, and a destructive cyber attack that impacted sales. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-09-11 04:00:00 UTC ]
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Print Book Sales Declined 6.1% Last Week

With only young adult fiction posting a small increase, unit sales of print books fell 6.1% last week compared to the week ended June 3, 2022, marking one of the biggest declines this year. Continue reading at Publishers Weekly

[ Publishers Weekly | 2023-06-08 04:00:00 UTC ]
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Twitter's ad sales have reportedly dropped by 59 percent since last year

Twitter's advertising revenue is down 59 percent during a five week stretch between April 1st and early May compared to the same period last year, The New York Times has reported. It regularly falls short of sales projections, and things aren't likely to change soon (apparently despite the... Continue reading at Engadget

[ Engadget | 2023-06-06 09:25:43 UTC ]
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APA Report: US Sees Double-Digit Audiobook Sales Growth for 11th Year

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