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 ]
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The Sun records £68m loss amid falling sales and hacking damages

Accounts show parent firm still spending an eighth of revenue dealing with phone hackingThe Sun recorded a loss of £68m last year amid falling print sales and the enormous cost of phone-hacking claims against its parent company from figures including Sir Elton John and Heather Mills.Rupert... Continue reading at The Guardian

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

Led by a strong performance in its trade division, revenue at Scholastic rose 7% in the first quarter ended August 31, 2019, over the comparable period in fiscal 2019. The net loss was cut to $58.5 million, from $61.3 million in last year’s first quarter. Continue reading at Publishers Weekly

[ 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

[ Publishers Weekly | 2018-08-22 00:00:00 UTC ]
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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

The February 2017 acquisition of MBS was the major driver of a 48.7% jump in sales at Barnes & Noble Education in the quarter ended July 29. The net loss in the period, however, was $34.8 million, up from $27.9 million in fiscal 2017. Continue reading at Publishers Weekly

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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

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[ Folio Magazine | 2011-08-31 00:00:00 UTC ]
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EUP reports 2% sales rise as Wright retirement announced

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Wiley Posts Q1 Gains Led by Digital Sales Boost

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PRH reports 'solid' sales as Bertelsmann revenues fall 8.9%

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S&S Posts Q2 Profit Gain Despite Sales Decline

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[ Publishers Weekly | 2020-08-06 04:00:00 UTC ]
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Pandemic losses hit Scholastic despite good trade sales

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[ The Bookseller | 2020-07-24 06:25:19 UTC ]
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Coronavirus Impact: Amid Losses, Poland Stages Its First Digital Book Fair

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UK national newspaper print sales plunge amid coronavirus lockdown

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In Q1, Sales Rose 26% at Amazon as It Works to Improve Shipping Times

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