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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Literacy organisations welcome signs that people of all ages are still reading books in physical and ebook formatsIf an Englishman's home is his castle, then Ofcom's latest survey suggests most battlements are still lined with books, with the average UK adult's literary collection amounting to... Continue reading at The Guardian
[ The Guardian | 2014-08-08 00:00:00 UTC ]
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S&S reported a 12% rise in revenue in the second quarter of 2014, credited the growth to such print bestsellers as Hillary Clinton's 'Hard Choices' and Stephen King's 'Mr. Mercedes.' Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-08 00:00:00 UTC ]
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Among the magazines with the largest number of single-copy sales, only four saw increases at the newsstand through the first half of 2014: Prevention and Women's Health, which are owned by Rodale; HGTV Magazine, a joint venture between Hearst and Scripps; and All You, a Time Inc.... Continue reading at Advertising Age
[ Advertising Age | 2014-08-08 00:00:00 UTC ]
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The Japanese bookstore chain is adding western comics and graphic novels at its New York City store with plans to also host events and add related pop culture merchandise. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-06 00:00:00 UTC ]
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Compared to Google and Facebook, Wikipedia is remarkably tight-lipped when it comes to requests for user data.Although Wikipedia is one of the largest websites in the world, it receives relatively few requests from government agencies for user information, especially compared to companies like... Continue reading at Fast Company
[ Fast Company | 2014-08-06 00:00:00 UTC ]
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U.S libraries have made the most headway with ebooks in libraries, but internationally, the situation remains problematic, according to a new report from the International Federation of Library Associations (IFLA). Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-08-04 00:00:00 UTC ]
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Hachette finance chief plays down effect of Amazon tactics as parent Lagardère reports 1% overall dip in salesThe Hachette publishing group has reported a fall in ebook sales as it continues its battle with Amazon over pricing.The publisher of Ian Rankin and Booker prize nominee Joshua Ferris... Continue reading at The Guardian
[ The Guardian | 2014-08-01 00:00:00 UTC ]
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Four stories by children's author Dr Seuss, including early incarnations of Horton and The Grinch, are to be published 60 years after last being seen. Continue reading at BBC News
[ BBC News | 2014-08-01 00:00:00 UTC ]
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Despite its dispute with Amazon, in the first six months of 2014 Hachette Book Group revenue rose 5.6% over sales in the first half of 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-31 00:00:00 UTC ]
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Evangelia Avloniti reports on the on struggle to sustain the Thessaloniki Book Fair, a vital connection between Greek publishers and the rest of the world. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-07-30 00:00:00 UTC ]
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With Harlequin’s sale to HarperCollins expected to be completed before the end of the week, the publisher reported a decline in sales and earnings in the second quarter of 2014. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-30 00:00:00 UTC ]
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The overall book market including print and digital fell by 4% in 2013, according to Nielsen Book... Continue reading at The Bookseller
[ The Bookseller | 2014-07-28 00:00:00 UTC ]
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While publisher Roger Jänecke of Visible Ink says that the “first thing is sales and the second thing is sales” when considering distributors, it’s clear from speaking with him and other independent presses that the connection between a publisher and its distributor isn’t just a business... Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-25 00:00:00 UTC ]
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Dave Asprey’s "The Bulletproof Diet," a lifestyle title due this December from Rodale Books, is the result of more than 20 years of research. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-25 00:00:00 UTC ]
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Amazon sales in the second quarter rose 23%, to $19.34 billion, in line with analysts' expectations, but the net loss of $126 million was deeper than expected. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-24 00:00:00 UTC ]
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While the rate of sales growth for digital comics has declined, pop culture trade news site ICv2 reports the category is 10x the size of the e-comics market in 2010. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-22 00:00:00 UTC ]
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Consumer ebook sales rose 10% in the first quarter of 2014, according to the Publishers... Continue reading at The Bookseller
[ The Bookseller | 2014-07-21 00:00:00 UTC ]
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Happy Junk Food Day! There's a food-centric holiday for every day of the year, and a newly updated app from Food.com collects recipes to celebrate each and every one of them. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-20 00:00:00 UTC ]
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To host a summer dinner party, PW's Clare Swanson turned to the "pure and unfussy" recipes from Diana Yen's new cookbook, 'A Simple Feast.' Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-20 00:00:00 UTC ]
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Hugh Howey says his study, based on calculation of Amazon sales, shows 'real progress' for authors who have chosen to go it aloneA new report claims that self-published authors have surged to 31% of ebook sales on Amazon.com, and are now earning more ebook royalties than writers published by the... Continue reading at The Guardian
[ The Guardian | 2014-07-18 00:00:00 UTC ]
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