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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French trade publication Livres Hebdo has scrapped its monthly distance print book sales barometer, which measured online and mail order sales, as an indirect result of Amazon’s refusal to provide any of its data to market research agencies. This refusal prompted Fnac, the largest cultural... Continue reading at The Bookseller
[ The Bookseller | 2014-11-04 00:00:00 UTC ]
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Penguin Random House UK has announced a proposed restructure of its international sales with Dean Chance heading up the export team and Rob Waddington in charge of the group team. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-11-04 00:00:00 UTC ]
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HarperCollins Canada president and CEO David Kent will leave the company at the end of the year following the decision to move fulfillment of HC Canada's titles in Canada to R.R. Donnelley. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-11-04 00:00:00 UTC ]
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The company reported that third quarter revenue for the period ended September 30, 2014, rose to $54.5 million, from $54.2 million in the comparable quarter in 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-11-04 00:00:00 UTC ]
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Cheltenham Literature Festival had a “record-breaking” 2014, with almost 140,000 tickets sold, up 7% from the year before. People from all bar three UK postcodes attended the festival, and both Saturdays of the 10-day event saw more than 20,000 in attendance. Meanwhile Waterstones, the... Continue reading at The Bookseller
[ The Bookseller | 2014-11-01 00:00:00 UTC ]
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The Book People has said it will stay vigilant in “assessing the changing marketplace” going forward, after recording a £6.8m loss last year. Annual financial results for the year to December 2013 filed on Companies House have revealed the online and book delivery service’s losses nearly... Continue reading at The Bookseller
[ The Bookseller | 2014-10-30 00:00:00 UTC ]
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Sales bumps after books are adapted as movies or TV shows are nothing new, but 'Gone Girl' author Flynn and 'Outlander' writer Gabaldon are seeing their older books reappear and hold steady on bestseller lists as well. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2014-10-30 00:00:00 UTC ]
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The dismantling of German retailing group Douglas by its American owners Advent International is gathering pace, and with it speculation that a sale of the Douglas-owned book chain Thalia is imminent, possibly even this year. The largest brick-and-mortar bookseller in the German-speaking... Continue reading at The Bookseller
[ The Bookseller | 2014-10-29 00:00:00 UTC ]
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Sales of adult books were down 2.2% in the first seven months of 2014, while the children's segment seems headed for a banner year with sales up 25.8% through July. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-28 00:00:00 UTC ]
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E-book retailer Kobo has reached an agreement with Marvel Comics to sell digital editions of its collected graphic novels. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-28 00:00:00 UTC ]
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Amazon has reported increased third quarter losses of $437m (£273m), prompting shares to tumble in after hours trading in New York. The internet giant’s losses were significantly higher than in the same quarter last year when it reported a $41m (£25.57m) deficit. The company reported the... Continue reading at The Bookseller
[ The Bookseller | 2014-10-25 00:00:00 UTC ]
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Pearson has reported sales level in underlying terms for the first nine months of 2014, with Penguin Random House performing "well" in the third quarter. Meanwhile chief financial officer Robin Freestone is to stand down after eight years in his role, the company said. Continue reading at The Bookseller
[ The Bookseller | 2014-10-25 00:00:00 UTC ]
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Fulcrum has plans to publish at least three nonfiction graphic novels a year for the foreseeable future, marketing not only to the general trade but also to comics specialty shops, libraries, and especially, schools. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-24 00:00:00 UTC ]
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Wales should seek to develop a nationally coordinated library service as a longterm goal, according to a new report into Welsh libraries. The Welsh Public Libraries Review was commissioned at the end of last year by the culture minister John Griffiths and carried out over the first half of 2014... Continue reading at The Bookseller
[ The Bookseller | 2014-10-24 00:00:00 UTC ]
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Gardners boosted turnover by 9.7% last year and has revealed it plans to expand in the near future. The wholesaler’s annual results to the year ending 28th February 2014 were filed on Companies House this morning (23rd October) and revealed that turnover was up by 9.7% to £208.9m, up from... Continue reading at The Bookseller
[ The Bookseller | 2014-10-24 00:00:00 UTC ]
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Is National Report a menace or a public good? Fake news publishers are taking advantage of how people read and share news. But National Report says its doing good work. The post Fake news site National Report: ‘We’re doing a public service’ appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2014-10-24 00:00:00 UTC ]
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Amazon's release of its third quarter financial results Thursday afternoon gave analysts and investors lots to think about as the giant e-tailer posted a large quarterly loss, forecast the possibility of a loss for the fourth quarter and had slowing growth in its media segment. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-24 00:00:00 UTC ]
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UK tops chart of publications per million inhabitants by a huge margin, with only China and US publishing more titles in absolute termsUK publishers released more than 20 new titles every hour over the course of 2014, meaning that the country published more books per inhabitant than anywhere... Continue reading at The Guardian
[ The Guardian | 2014-10-22 00:00:00 UTC ]
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Amazon just found a way to put further pressure on Hachette in its ongoing pricing war: strike a deal with another publisher. The online retailer has forged a new agreement with Simon & Schuster that will keep the book giant's digital and physical... Continue reading at Engadget
[ Engadget | 2014-10-21 00:00:00 UTC ]
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Coming in November: new books from Deepak Chopra, James Carroll, and John Maxwell. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-21 00:00:00 UTC ]
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