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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Booksellers Association calls in celebrity support for Books Are My Bag campaign after more than 500 closures since 2005The number of independent bookshops gracing British high streets has fallen below 1,000 – a third fewer than nine years ago, amid cut-throat competition from supermarkets,... Continue reading at The Guardian
[ The Guardian | 2014-02-21 00:00:00 UTC ]
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In a letter filed yesterday, Apple advised the court that it would only provide those documents to the monitor that it viewed as being within the monitor’s narrow mandate. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-21 00:00:00 UTC ]
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Nominees for the 34th annual L.A. Times Book Prizes have been announced and include five finalists for the graphic novel prize. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-20 00:00:00 UTC ]
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In a deal that adds 27 titles to its backlist, Graphic Arts Books has acquired the trade books and publishing rights of Companion Press. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-19 00:00:00 UTC ]
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Egmont’s magazine division has seen a return to growth in circulation, reporting a 5.7%... Continue reading at The Bookseller
[ The Bookseller | 2014-02-14 00:00:00 UTC ]
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This week's cold weather and snow has led to canceled events and store closures, some for more than a day during Valentine’s Week. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-14 00:00:00 UTC ]
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Music weekly's circulation drops below 'death knell' 20,000 mark but publisher says reach and revenues are growingIn its heyday it sold more than 300,000 copies but the circulation of the New Musical Express, the last of the old-school music weeklies, has dipped below 20,000 in the latest... Continue reading at The Guardian
[ The Guardian | 2014-02-14 00:00:00 UTC ]
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Life before the Internet sucked. My life as a kid growing up in suburban Michigan consisted of urban sprawl, shopping malls, and bad television (except 30 minutes of Seinfeld every Thursday). Adults told you that educated people followed the news, but most small towns had one mediocre newspaper,... Continue reading at Slate
[ Slate | 2014-02-13 00:00:00 UTC ]
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Penguin Books India has recalled American Indoligist Wendy Doniger’s book The Hindus: An Alternative History, sparking a debate about publishing freedoms. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-02-13 00:00:00 UTC ]
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Listings magazine, which is the most popular paid-for title in UK, reported an average weekly sale of 1,374,813TV Choice has increased sales to a five-year high of almost 1.4 million, the biggest beneficiary among listings magazines from the demise of Richard Desmond's short-lived TV Pick.H... Continue reading at The Guardian
[ The Guardian | 2014-02-13 00:00:00 UTC ]
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Publishing Perspectives has launched a digital monthly magazine optimized for reading on tablets and screens. Our first issue on Selling & Sales highlights new strategies for boosting book sales. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2014-02-13 00:00:00 UTC ]
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IPC Media music magazine reports drop in circulation of 21.1% year on year, with rival Q down 14.2%A relaunch of the New Musical Express failed to stop its sales falling below the 20,000 mark for the first time, down more than a fifth year on year.The IPC Media title, which celebrated its 60th... Continue reading at The Guardian
[ The Guardian | 2014-02-13 00:00:00 UTC ]
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Bookstore sales in 2013 fell 1.6%, to $13.19 billion, according to preliminary estimates from the U.S. Census Bureau. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-12 00:00:00 UTC ]
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New deals for Samantha Berger, Tom Angeleberger, Kathi Appelt, Jenny McLachlan, and others. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-11 00:00:00 UTC ]
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Forbes Media is drawing interest from acquirers including China's Fosun International Ltd. and Singapore's Spice Global Investments Pvt, with final offers for the magazine publisher due Monday,... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2014-02-11 00:00:00 UTC ]
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Driven by a solid fourth quarter and good sales for the year in the U.S., Lagardere reported sales of 2.07 billion euros in its publishing division for 2013, down from 2.08 billion in 2012. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-11 00:00:00 UTC ]
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Computer auction-based system is set to go beyond its roots in display sector but questions remain on transparencyProgrammatic trading of advertising has been around for a decade or so, but advocates believe 2014 could be the year it breaks out beyond its online display roots and takes hold in... Continue reading at The Guardian
[ The Guardian | 2014-02-10 00:00:00 UTC ]
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Rupert Murdoch’s publishing arm, which owns Wall Street Journal and the Times, blames ‘challenging advertising market’Dominic Rushe Continue reading at The Guardian
[ The Guardian | 2014-02-07 00:00:00 UTC ]
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News Corp., the newspaper publisher that owns The Wall Street Journal and the New York Post, beat profit estimates and posted gains in real-estate services and book publishing, even as advertising... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2014-02-07 00:00:00 UTC ]
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Despite the challenge of competing with online booksellers, Canadian independents contacted by PW reported that 2013 was an encouraging year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-02-07 00:00:00 UTC ]
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