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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Bloomsbury had a "strong" final three months of 2011, with ebook sales growing "... Continue reading at The Bookseller
[ The Bookseller | 2012-01-16 00:00:00 UTC ]
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Jonathan Cape has acquired the Observer/Cape/Graphic Short Story Prize 2011-winning work, The... Continue reading at The Bookseller
[ The Bookseller | 2012-01-13 00:00:00 UTC ]
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The editorial directorship at Coffee House Press may have changed hands only six months ago, passing from its founding publisher, Allan Kornblum, to longtime editor Chris Fischbach in July, but the 27-year-old Minneapolis literary nonprofit press certainly hasn’t lost any momentum during the... Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-01-13 00:00:00 UTC ]
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Sales of Charles Dickens' Great Expectations have rocketed thanks to the BBC's lavish... Continue reading at The Bookseller
[ The Bookseller | 2012-01-12 00:00:00 UTC ]
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Print books sales in the US fell 9% in 2011, with strong growth in digital sales appearing to... Continue reading at The Bookseller
[ The Bookseller | 2012-01-11 00:00:00 UTC ]
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Sales of the Costa Book of the Year category winners have trebled since their victories last week... Continue reading at The Bookseller
[ The Bookseller | 2012-01-11 00:00:00 UTC ]
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Print book sales have “remained tough”, hit by consumer caution and growing ebook... Continue reading at The Bookseller
[ The Bookseller | 2012-01-10 00:00:00 UTC ]
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This week, a fistful of mystery-thrillers bump up against bios of Elizabeth II and the Obamas, as well as a fascinating memoir from the "godfather of rap." Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-01-06 00:00:00 UTC ]
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Leading US book retailer Barnes & Noble has reported sales of its Nook e-reading devices... Continue reading at The Bookseller
[ The Bookseller | 2012-01-06 00:00:00 UTC ]
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Strong ebook sales over the festive period compensated for the decline in physical sales,... Continue reading at The Bookseller
[ The Bookseller | 2012-01-05 00:00:00 UTC ]
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Daily Kobo ebook sales in the UK increased seven times in December as the company revealed one... Continue reading at The Bookseller
[ The Bookseller | 2012-01-05 00:00:00 UTC ]
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Booksellers are discounting books and ebooks by up to 80% in post-Christmas promotions. Amazon... Continue reading at The Bookseller
[ The Bookseller | 2012-01-03 00:00:00 UTC ]
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The cannibalization of print by digital accelerated in 2011, with unit sales in the outlets tracked by Nielsen BookScan falling 8.9% with one week to go in the year. The drop in print sales was double that of 2010, when units fell 4.5%. The decline from 2010 to 2011 sped up in all major... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-12-30 00:00:00 UTC ]
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Printed book sales soared by 10% (£6.9m) week-on-week during the week before Christmas Day... Continue reading at The Bookseller
[ The Bookseller | 2011-12-30 00:00:00 UTC ]
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Foyles has reported a third year of profitable trading, despite "deep concern" about... Continue reading at The Bookseller
[ The Bookseller | 2011-12-21 00:00:00 UTC ]
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The offices of the American University in Cairo Press and its Tahrir Bookstore, both situated on... Continue reading at The Bookseller
[ The Bookseller | 2011-12-20 00:00:00 UTC ]
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The HMV Group made a profit of £11.5m from the sale of book chain Waterstone's, but the... Continue reading at The Bookseller
[ The Bookseller | 2011-12-19 00:00:00 UTC ]
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The Office of Fair Trading (OFT) rejected publishers' claims that the merger of The Book... Continue reading at The Bookseller
[ The Bookseller | 2011-12-15 00:00:00 UTC ]
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It's been 18 months since News Corp erected paywalls around The Sunday Times and The Times. Mike Fletcher assesses whether the paywall model is the future for online publishing and talks exclusively with News International to discover a shift in strategic thinking. Continue reading at Media Week
[ Media Week | 2011-12-14 00:00:00 UTC ]
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