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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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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Myriad has bought a debut graphic novel by William Volley, following the life of a door-to-door salesman. The Opportunity follows Colin, a salesman on the verge of making it as a regional manager, when his bosses change the terms of his promotion, challenging his grasp on reality. Continue reading at The Bookseller
[ The Bookseller | 2014-10-18 00:00:00 UTC ]
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WH Smith has reported a 9% rise in pre-tax profits for the year but said books sales continue to be “challenging”. Continue reading at The Bookseller
[ The Bookseller | 2014-10-17 00:00:00 UTC ]
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Bookstore sales had their best month of the year in August, with sales up 3.4% over August 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-15 00:00:00 UTC ]
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A new report from the Aspen Institute looks at the importance of U.S. public libraries, and how they can change and improve to meet new roles in the 21st Century. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-14 00:00:00 UTC ]
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The ICv2 conference offered data on the new comics customer, the explosive growth of comics festivals, and a discussion of what this new customer is reading. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-09 00:00:00 UTC ]
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The 32nd International Spanish Book Fair (LIBER 2014) was held in Barcelona last week with ebook growth and the problem of getting Spanish-language books translated into English among the topics of discussion. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-07 00:00:00 UTC ]
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Clay Shirky and Bethany McLean are among the first authors signed up for the inaugural Columbia Global Reports list, which debuts in fall 2015. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-06 00:00:00 UTC ]
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In spring 2015, Dover Publications, which is best known for paperback reprints of classics and out-of-print titles, is launching Dover Graphic Novel, a new line of graphic novels and nonfiction comics. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-03 00:00:00 UTC ]
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HarperCollins is ramping up its direct sales efforts by offering authors who sell direct the chance to earn a higher royalty rate in the process. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-10-02 00:00:00 UTC ]
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In a year in which four publishers closed, paused, or slimmed down their fiction lists, members of the American Christian Fiction Writers held their annual conference Sept. 25-27 in St. Louis to honor their best, talk shop, and see who was still standing, though all agreed there are still... Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-30 00:00:00 UTC ]
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In another step in the integration of Penguin and Random House, the company has completed the buyout process of eligible members within the PRH sales group. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-30 00:00:00 UTC ]
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The amount of personal information held by firms like Google and Facebook has made them ripe targets for data-hungry governments and intelligence agencies. But the bull’s-eye on Yahoo’s back may be losing its appeal.Government data requests served on Yahoo have been falling. The firm received... Continue reading at PC World
[ PC World | 2014-09-26 00:00:00 UTC ]
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New books from Max Lucado and Rob Bell are among big October titles from religion publishers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-24 00:00:00 UTC ]
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The Perseus Books Group is integrating its London and New York sales teams, placing them under the control of someone who will take over the newly created role of v-p of international sales and marketing. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-23 00:00:00 UTC ]
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Book sales fell 1.6% in May, to $1.09 billion, compared to the same month last year. However, sales rose 2.3%, to $4.29 billion, for the first five months of the year, as compared to same period in 2013, according to the AAP’s monthly StatShot program. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-19 00:00:00 UTC ]
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Newspaper publishers pull out the stops to print early morning editions as Scotland opts to stay in UK Continue reading... Continue reading at The Guardian
[ The Guardian | 2014-09-19 00:00:00 UTC ]
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E-book Sales Level OffFor the moment, publishers say that ebook sales in Canada have plateaued. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-19 00:00:00 UTC ]
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New appointments at the Penguin Publishing Group include Lauren Monaco as v-p, director of sales, paperback and Berkley/NAL. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-18 00:00:00 UTC ]
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It's September which means school is back in session. Here are 10 books that take place at schools or primarily involve the lives of teachers and students. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-09-17 00:00:00 UTC ]
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