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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The Audio Publishers Association finds in its annual report that audiobook sales generated $1.8 billion in the United States in 2022. The post APA Report: US Sees Double-Digit Audiobook Sales Growth for 11th Year appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-06-01 15:27:14 UTC ]
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Harry Potter publisher says in challenging economic times books are seen as cheap form of entertainmentBloomsbury Publishing, the home of Harry Potter, has revealed a rise in annual sales as it said people were turning to books as a cheap form of entertainment as finances were squeezed.Sales of... Continue reading at The Guardian
[ The Guardian | 2023-05-31 13:38:54 UTC ]
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Digital publisher and owner of Vice News and Vice TV was once valued at $6bn but has agreed sale for $225mVice, the once high-flying media startup that reached a peak valuation of nearly $6bn (£5bn), has filed for bankruptcy protection in the US as the digital publisher engineers a cut-price... Continue reading at The Guardian
[ The Guardian | 2023-05-15 09:23:50 UTC ]
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Unit sales of print books fell 2.7% last week compared to the week ended April 30, 2022. For the second consecutive week, higher sales in the adult fiction and young adult categories were offset by declines in adult nonfiction and children's segments. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-04 04:00:00 UTC ]
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Amazon's cost-cutting efforts led to higher earnings in the first quarter, but its online revenue was flat compared to the first quarter of 2022. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-04-28 04:00:00 UTC ]
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In 2022, Nielsen BookData saw a 10-percent fall in ebook volumes in the UK, and a 3-percent drop in print. Audiobooks' growth slowed. The post Nielsen BookData 2022: A ‘Slight Decline’ in UK Book Sales appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-03-22 12:42:13 UTC ]
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Year-end figures from the Association of American Publishers’ StatShot program show sales were down in all publishing categories. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-02-17 05:00:00 UTC ]
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According to Bookstat, a service that collects online sales data in real time from Amazon, Apple, and Barnes & Noble across the e-book, digital audiobook, and print book formats, total online sales of those formats rose 5.6% in 2022, to $12.13 billion. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-02-15 05:00:00 UTC ]
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Sales from publishers reporting to the AAP's StatShot program were down 6.4% in 2022 compared to 2021. Sales were down in all publishing categories, with print sales off in both trade segments. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-02-10 05:00:00 UTC ]
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In the AAP’s newest StatShot update, May trade sales were mixed and sales of higher educational course materials fell, leading to a 3.7% sales decline compared to May 2021 for the 1,368 publishers that report sales to the association. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-01 04:00:00 UTC ]
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Despite a good sales increase for adult fiction titles, unit sales of print books fell 5% last week at outlets that report to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-06-23 04:00:00 UTC ]
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Sales of adult trade books fell slightly in the first quarter of 2022 from the comparable period in 2021, but children's sales increased 10.2% at publishers that report to AAP's StatShot program. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-05-27 04:00:00 UTC ]
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March bookstore sales increased 12.5% over a year ago, contributing to a 16% gain in the first quarter of 2022 over the comparable period in 2021. The $1.99 billion in 2022 first quarter sales, however, was 2.5% below the first period of 2019. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-05-17 04:00:00 UTC ]
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The impact of an earlier Easter and a kerfuffle surrounding Dr. Seuss titles that sold many books last year proved impossible to overcome last week, when unit sales of print books were down 12.8% compared to the week ended March 20, 2021, at outlets that report to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-03-24 04:00:00 UTC ]
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The coronavirus pandemic may continue to cloud people’s lives, but it has generated a silver lining for the French book business. Continue reading at The Bookseller
[ The Bookseller | 2022-01-10 14:15:46 UTC ]
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The sales of print books in the US soared across 2021, boosted by fiction with YA and graphic novels riding high in particular. Continue reading at The Bookseller
[ The Bookseller | 2022-01-07 18:22:38 UTC ]
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W H Smith reported a group loss before tax of £116m for the year to end August 2021, although the retailer said it expected to return to “meaningful profit” in 2022 with a return to pre-pandemic levels. Continue reading at The Bookseller
[ The Bookseller | 2021-11-10 20:28:22 UTC ]
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German book chain Thalia has come through the pandemic in better shape than expected with sales up 7% to more than €1.1bn (approximately £928m) in the 12 months to 30th September in Germany and Austria. Continue reading at The Bookseller
[ The Bookseller | 2021-10-22 15:52:53 UTC ]
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Inventory shortages, staffing concerns, and ongoing challenges presented by Covid-19 have not slowed the sales of Bibles, books, and gifts, and Christian booksellers are thriving. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-10-12 04:00:00 UTC ]
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Travel publishers have reported an uptick in sales in recent months as coronavirus restrictions have eased. However many warn it may be “years” until things return to normal, with some pivoting towards popular UK and activity-based guides. Continue reading at The Bookseller
[ The Bookseller | 2021-08-16 11:20:27 UTC ]
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