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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Bookstore sales fell in 2010, although not as much as many had feared, helped in part by a holiday rally that pushed sales up by 5.3% and 2.3% in November and December, respectively. For 2010, bookstore sales were down 1.4%, to $16.5 billion, the third consecutive year that store sales have... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-02-21 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Thu, 17/02/2011 - 09:32 Adjusted operating profit at Reed Elsevier declined by 1% to £1.56bn in 2010 as the publisher spoke of "encouraging" prospects for the year ahead. Revenue was flat at £6.06bn across the whole company, although at Elsevier,... Continue reading at The Bookseller
[ The Bookseller | 2011-02-17 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Fri, 11/02/2011 - 16:13 The rate of decline of independent bookshops slowed in 2010, according to Booksellers Association numbers, despite the testing conditions on the high street and increasing competition from digital. Nearly one indie bookshop a... Continue reading at The Bookseller
[ The Bookseller | 2011-02-11 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Wed, 09/02/2011 - 07:00 Profits at Indigo Books & Music have dropped by $4.4m year-on-year in its fourth quarter. The Canadian book retailer reported profits of C$30.1m in the fourth quarter ending 1st January, down from C$34.5m in the same... Continue reading at The Bookseller
[ The Bookseller | 2011-02-09 00:00:00 UTC ]
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Written By: Barbara Casassus Publication Date: Mon, 07/02/2011 - 08:53 Sales of books in France fell by 1.5% in 2010 or 0.5% without taking account of book price inflation, according to French weekly Livres Hebdos indicators. After three years of increase, the decline came as retailing in... Continue reading at The Bookseller
[ The Bookseller | 2011-02-07 00:00:00 UTC ]
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The faludhaj from The Sweets of Araby is indeed very, very sweet, like concentrated honey, which is essentially what it is. The sesame oil and toasted ground almonds contribute a nice roasted flavor, which adds dimension; still, I couldnt imagine eating more than a couple small spoonfuls of this. Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-02-07 00:00:00 UTC ]
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By Tim Conneally, Betanews At a special event in Mountain View, California Wednesday, search leader Google gave the first in-depth look at "Honeycomb," the tablet-specific version of the Android operating system. This is the biggest overhaul the platform has gotten since it debuted in 2008. The... Continue reading at Betanews
[ Betanews | 2011-02-03 00:00:00 UTC ]
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Written By: Lisa Campbell The vice-president of the International Publishing Association's offices came under heavy attack from government forces in Egypt this afternoon. A reporter at the Al Shorouk newspaper, owned by IPA vice-president Ibrahim El Moallem, said she and her colleagues,... Continue reading at The Bookseller
[ The Bookseller | 2011-02-02 00:00:00 UTC ]
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Written By: Philip Stone Spending at UK booksellers in January 2011 was up just 0.7% on a dire January last year when the "big freeze" plunged book sales to a five-year low. According to Nielsen BookScan data, £108.6m was spent at UK booksellers in the four weeks to 29th January, up just... Continue reading at The Bookseller
[ The Bookseller | 2011-02-02 00:00:00 UTC ]
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Written By: Bookseller Staff The 43rd Cairo Book Fair, due to have been held this week, has been cancelled. The Guardian reports that "many foreign exhibitors" have been left stranded after failing to secure flights home, while others have had to abandon stands and books after the fair was... Continue reading at The Bookseller
[ The Bookseller | 2011-02-01 00:00:00 UTC ]
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Apple has reportedly rejected Sony's reader app from the App store for selling content within the app and letting customers make purchases outside the App store (such as within the Sony Reader Store, according to The New York Times. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-01 00:00:00 UTC ]
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The ebook sales milestone "has come even sooner than we expected," CEO Bezos says. Continue reading at PC World
[ PC World | 2011-01-29 00:00:00 UTC ]
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Written By: Lisa Campbell Kindle ebooks have overtaken paperback sales at Amazon.com, as the internet retailer revealed sales topped $10bn for the first time in its latest trading quarter. read more Continue reading at The Bookseller
[ The Bookseller | 2011-01-28 00:00:00 UTC ]
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Mobile app downloads will increase 117 percent to 17.7 billion worldwide while mobile application store revenue will grow to more than $15.1 billion in 2011, a 190 percent increase, according to Gartner Inc. In 2010, app stores generated an estimated $5.2 billion from both download sales and... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-28 00:00:00 UTC ]
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Online retailer reports sales of its digital ebooks has outstripped those of traditional paperbacks. Continue reading at PC World
[ PC World | 2011-01-28 00:00:00 UTC ]
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Written By: Barbara Casassus Market research firm GfK has predicted that 1 million tactile tablets will be sold in France this year. A total of 435,000 worth 220 million euros were sold here in 2010, a strong start for the new market. Although tablet sales for Christmas were reported not to... Continue reading at The Bookseller
[ The Bookseller | 2011-01-27 00:00:00 UTC ]
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Written By: Lisa Campbell High street book sales at W H Smith were down by around 2% like-for-like in the weeks leading to Christmas, according to analysts briefed by the company, equating to books outperforming other categories. In its formal Christmas trading statement, out this morning... Continue reading at The Bookseller
[ The Bookseller | 2011-01-26 00:00:00 UTC ]
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Written By: Charlotte Williams Constable & Robinson has appointed Walker Books as its sales agents for Europe, the Middle East and East Africa. read more Continue reading at The Bookseller
[ The Bookseller | 2011-01-26 00:00:00 UTC ]
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NewPage Paper and Verso--the largest makers of coated paper and the subject of merger rumors last year--are b Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-18 00:00:00 UTC ]
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