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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Indigo Books & Music reported a net loss of C$31 million in the year compared to net earnings of C$4.3 million in fiscal 2013. Sales slipped 1.3%, to C$868 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-27 00:00:00 UTC ]
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Blurb, a POD and digital self-publishing platform, has hired key personnel at Graphicly, a digital publishing platform, including Graphicly co-founder Micah Baldwin. The deal will shut down Graphicly. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-27 00:00:00 UTC ]
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While the first few months of 2014 were tough for comics specialty retailers, graphic novel and merchandise sales remained solid. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-23 00:00:00 UTC ]
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Hachette author Jeffery Deaver among those speaking out against Amazon's decision to stop selling certain Hachette titlesStray punches in a corporate slugfest knocked spectacles from authors noses and left readers with black eyes this week, after Amazon, the online retailer, stopped selling... Continue reading at The Guardian
[ The Guardian | 2014-05-23 00:00:00 UTC ]
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Although the crowd was relatively small, they came to buy at this year's Maine Comic Arts Festival. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-21 00:00:00 UTC ]
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Revenue at U.K.-based Bloomsbury rose 11% in the fiscal year ended February 28, 2014, to £109.5 million, compared to the previous year. Operating profit dipped to £7.7 million from £7.8 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-20 00:00:00 UTC ]
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MasterChef among titles boosting revenues by 12.6%, with marketing campaign set for illustrated Harry Potter editionsThe chief executive of Bloomsbury has hailed "chefs as rockstars" after a surge in sales of titles from Heston Blumenthal, Raymond Blanc and MasterChef helped cook up bumper... Continue reading at The Guardian
[ The Guardian | 2014-05-20 00:00:00 UTC ]
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Following the announcement last week that Sophie Hicks was setting sail on her own, it has emerged that Ed Victor Limited has been reconfigured following a retirement and a second departure to launch a new business. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-20 00:00:00 UTC ]
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Quercus is to move it sales and distribution services in the US to Hachette Book Group (HBG).... Continue reading at The Bookseller
[ The Bookseller | 2014-05-20 00:00:00 UTC ]
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Christian retail sales increased slightly last year, even while the total number of stores in that market continued to decline, according to a state-of-the-industry report for 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-13 00:00:00 UTC ]
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First quarter sales at Lagardère Publishing fell 6.2%, to 393 million euros compared to the first period ended March 31, 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-13 00:00:00 UTC ]
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First quarter sales in 2014 fell 11% at Simon & Schuster, to $153 million, but operating income rose to $11 million from $10 million in the first quarter of 2013, parent company CBS reported. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-08 00:00:00 UTC ]
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Sales in Houghton Mifflin Harcourt’s trade publishing division fell 20% in the first quarter of 2014 compared to the first period of 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-08 00:00:00 UTC ]
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Harlequin has posted a drop in revenues and earnings in the first quarter of 2014. Parent... Continue reading at The Bookseller
[ The Bookseller | 2014-05-07 00:00:00 UTC ]
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Three one-time expenses contributed to a loss of $3.4 million at Courier Corp. in the second quarter ended March 29, 2014 compared to last year’s second period. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-07 00:00:00 UTC ]
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To mark the June 6 release of the new sci-fi blockbuster film, "Edge of Tomorrow," starring Tom Cruise and Emily Blunt, Viz Media has released a new paperback edition of the book the film is based on, in addition to a new graphic novel adaptation of the book. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-06 00:00:00 UTC ]
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Israel meets the Amazon (or Amazon.com, anyway) in Kinetic Art's new 'Look & Cook' app. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-05 00:00:00 UTC ]
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When barbecue diehards debate the merits of various regional styles, the British Isles typically come up, well, never. That may have to change. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-05-05 00:00:00 UTC ]
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The invoiced value of UK publishers’ annual sales fell 2% in 2013 to £3.39bn, with... Continue reading at The Bookseller
[ The Bookseller | 2014-05-01 00:00:00 UTC ]
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Revenue for b-to-b publisher and event producer UBM declined 13.5 percent to $317 million for the first quarter, the company announced Tuesday. The steep loss is mitigated in part by "strong foreign exchange headwind," changes to event timing and the restructuring of Continue reading at Folio Magazine
[ Folio Magazine | 2014-04-30 00:00:00 UTC ]
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