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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With sales in nonfiction categories all falling again, unit sales of print books declined 4.9% last week compared to the week ended July 25, 2020, at outlets that report to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-07-29 04:00:00 UTC ]
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With sales in all categories posting double-digit increases, sales for the 1,358 publishers that report results to the AAP’s StatShot program rose 22.3% over the comparable period in 2020 for the first quarter of 2021. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-05-27 04:00:00 UTC ]
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A number of children’s bookshops up and down the country have spoken of their joy at being able to welcome children and parents back into their premises, with many reporting excellent trading. Continue reading at The Bookseller
[ The Bookseller | 2021-05-07 10:42:15 UTC ]
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In 'The Freckle Report 2021,' veteran London-based bookseller, library advocate, and former Waterstones managing director Tim Coates warns that U.S. public library usage is in decline—and he suggests library leaders must do more to reverse the slide. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-05-06 04:00:00 UTC ]
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Many of the biggest hits on such streaming services as Netflix and Disney+ have been adapted from comics and graphic novels. Publishers have learned to scramble to be sure the books these shows are based on are available when demand spikes. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-04-21 04:00:00 UTC ]
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The decision to focus its 2020 list on books that could perform well online, in nontraditional outlets, and in digital formats led to a 6% increase in operating profits at Quarto last year, while revenue declined 7%, to $126.9 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-03-22 04:00:00 UTC ]
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France's bricks-and-mortar booksellers have reported a year-on-year fall in sales of only 3.3% in 2020, despite a total of three months closure across two lockdowns, in response to the Covid-19 pandemic. Continue reading at The Bookseller
[ The Bookseller | 2021-01-06 14:21:18 UTC ]
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Indie bookshops in Tiers 2 and 3—which, unlike Tier 4 shops, can still open their doors to customers—have reported a change in customer behaviour this week, with reduced footfall since the government's warnings and further restrictions at the weekend. Continue reading at The Bookseller
[ The Bookseller | 2020-12-23 07:59:52 UTC ]
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Bookstore sales fell 28.8% in October compared to October 2019, according to estimates from the U.S. Census Bureau. October was the second consecutive month bookstore sales fell by roughly 28% compared to 2019. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-12-16 05:00:00 UTC ]
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Barack Obama's A Promised Land (Viking) has secured a second week in the UK Official Top 50 number one spot. Continue reading at The Bookseller
[ The Bookseller | 2020-12-01 09:38:10 UTC ]
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With declines in all categories except adult nonfiction, unit sales of print books fell 5.1% last week at outlets that report to BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-10-28 04:00:00 UTC ]
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Arsene Wenger's My Life in Red and White (Weidenfeld & Nicolson) has immediately lifted the trophy in the UK Official Top 50, scoring the number one spot with 35,297 copies sold in its launch week. Continue reading at The Bookseller
[ The Bookseller | 2020-10-19 21:24:07 UTC ]
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Unit sales of print books fell 3.3% last week, the third consecutive week in which print sales have fallen. In contrast, unit sales continue to do better when compared to 2019. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-10-16 04:00:00 UTC ]
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The Italian Publishers Association's Ricardo Franco Levi and his staff in Milan report on progress in one of Europe's hardest hit markets. The post Frankfurt Report: Italian Book Market Narrows Its Losses appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-10-15 15:25:47 UTC ]
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Edinburgh University Press has reported a 2% rise in sales for the year to end 31st July 2020 and announced that c.e.o. Timothy Wright will retire next year. Continue reading at The Bookseller
[ The Bookseller | 2020-09-15 09:03:36 UTC ]
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Higher sales of a range of digital and online products offset continued declines in print revenue, leading to a 2% increase in sales in the first quarter of fiscal 2021 at John Wiley & Sons. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-09-04 04:00:00 UTC ]
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Global revenues at Penguin Random House fell slightly by 1.4% year on year in a "solid" six months to 30th June despite the impact of Covid-19, while parent company Bertelsmann saw group revenues tumble 8.9%. Continue reading at The Bookseller
[ The Bookseller | 2020-09-01 10:51:49 UTC ]
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Lower production and distribution costs were enough to give Simon & Schuster a 9% increase in earnings in the second quarter, despite an 8% drop in sales. Digital revenue jumped 44% in the quarter. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-08-06 04:00:00 UTC ]
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Scholastic has reported a 10% revenue drop for the fiscal year to end May 2020, to $1.49bn, with an overall loss of $88.5m, after Covid-19 battered its fourth quarter. Continue reading at The Bookseller
[ The Bookseller | 2020-07-24 06:25:19 UTC ]
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Trends reported by Polish publishers show downturns in sales of as much as 70 percent during the spring, and the cancellation of the Warsaw Book Fair has seen the market stage a digital effort, BookTarg. The post Coronavirus Impact: Amid Losses, Poland Stages Its First Digital Book Fair appeared... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-05-27 14:49:28 UTC ]
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