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 ]
News tagged with:
#shelter-at-home orders
#earnings report
#lsc communications
Print sales for the UK’s biggest national newspapers slumped by as much as 39% last month, as the coronavirus lockdown Continue reading at Editor & Publisher
[ Editor & Publisher | 2020-05-22 22:41:14 UTC ]
More news stories like this | News stories tagged with:
#coronavirus lockdown
#print sales
Some titles fall up to 39% as publishers grapple with selling copies with shops shut and transport hubs closedCoronavirus – latest updatesSee all our coronavirus coveragePrint sales for the UK’s biggest national newspapers slumped by as much as 39% last month, as the coronavirus lockdown shut... Continue reading at The Guardian
[ The Guardian | 2020-05-21 13:50:38 UTC ]
More news stories like this | News stories tagged with:
#publishers grapple
#latest updatessee
#free copies
#print sales
Sales increased to $75.5 billion in the second quarter at Amazon, even as it acknowledged that the surge in demand forced it to prioritize essential items such as household staples and "dampened demand" for non-essential products. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-05-01 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#sales increased
#household staples
Penguin Random House owner Bertelsmann has reported a first quarter revenue decline of 2.7% in what it said was a “satisfactory” performance given the challenge of Covid-19. Continue reading at The Bookseller
[ The Bookseller | 2020-04-29 16:46:13 UTC ]
More news stories like this | News stories tagged with:
#bertelsmann reports
#quarter decline
#bertelsmann
#penguin random house
Physical books sales in the United States are holding up in the wake of the coronavirus pandemic, with NPD BookScan reporting that 166.9 million units had been sold in 2020 through the week ending 11th April, just a 1.3% decline on the same period in 2019. Continue reading at The Bookseller
[ The Bookseller | 2020-04-20 18:30:17 UTC ]
More news stories like this | News stories tagged with:
#coronavirus pandemic
#3% decline
#bookscan
#print sales
The near-simultaneous rush among publishers with subscription businesses to loosen their paywalls and provide free access to reporting on the COVID-19 pandemic has reignited long-standing debates about whether the news should fundamentally be free, even as ad-supported journalism (with some... Continue reading at Folio Magazine
[ Folio Magazine | 2020-04-10 16:17:19 UTC ]
More news stories like this | News stories tagged with:
#caption id=
#subscription model
#apple news+
#york magazine
#media industry
As it works to meet the surge in demand for "household staples, medical supplies, and other high demand products," Amazon has sent a letter to other suppliers, including publishers, telling them their goods will receive a low priority until at least April 5. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-17 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#household staples
#medical supplies
#including publishers
More than 50 Australian Associated Press journalists are likely to be offered jobs at News Corp Australia and Nine Entertainment as the Continue reading at Editor & Publisher
[ Editor & Publisher | 2020-03-04 19:15:48 UTC ]
More news stories like this | News stories tagged with:
#offered jobs
#amid closure
#press journalists
#news corp
Around 200 journalists are set to be made redundant by the shock closure, which will hit the industry hardMore than 50 Australian Associated Press journalists are likely to be offered jobs at News Corp Australia and Nine Entertainment as the two media giants look to boost staff ranks after... Continue reading at The Guardian
[ The Guardian | 2020-03-04 09:33:19 UTC ]
More news stories like this | News stories tagged with:
#press journalists
#offered jobs
#amid closure
#made redundant
#told staff
#news corp
AT&T Inc. managed something it hasn’t since 2014: An increase in spending on research and development. The Dallas telecommunications and now media company increased in investment in R&D last year by about $80 million to $1.28 billion, an increase of about 7 percent, it said in its... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2020-02-25 16:16:46 UTC ]
More news stories like this | News stories tagged with:
#$80 million
#exchange commission
#time warner
AT&T Inc. managed something it hasn’t since 2014: An increase in spending on research and development. The Dallas telecommunications and now media company increased in investment in R&D last year by about $80 million to $1.28 billion, an increase of about 7 percent, it said in its... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2020-02-24 22:58:29 UTC ]
More news stories like this | News stories tagged with:
#time warner
Blackwell's has reported "strong" Christmas sales with the chain's online business enjoying a "buoyant" trading period. Continue reading at The Bookseller
[ The Bookseller | 2020-01-13 17:46:29 UTC ]
More news stories like this | News stories tagged with:
#christmas sales
Led by such categories and toys and fashion, Amazon had record sales between Thanksgiving and Cyber Monday. One book managed to make it onto the company's top-selling items over the period. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-12-03 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#record sales
#cyber monday
Profits rose by $1 million at Simon & Schuster in the third quarter of 2019 over the comparable period in 2018, despite a 9% drop in sales. In last year's third quarter, Bob Woodward's 'Fear' drove strong sales for the publisher. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-11-12 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#sales decline
#profits rose
#$1 million
#simon schuster
#9% drop
#bob woodward
Profits dropped 28% at HarperCollins in the first quarter of fiscal 2020 compared to the first period of fiscal 2019, while revenue declined 3%. Parent company New Corp expects HC's financial performance to improve starting in January, the second half of the fiscal year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-11-08 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#fiscal year
#financial performance
#harpercollins
Blackwell’s has reported a third consecutive year of growth, with sales of £58.3m for the financial period ending 29th June 2019, up from £57m the previous year. Continue reading at The Bookseller
[ The Bookseller | 2019-11-04 03:38:15 UTC ]
More news stories like this | News stories tagged with:
#sales rise
#consecutive year
Shoppers appear unfazed by a potential recession, tariff uncertainty and an impeachment inquiry in Washington. The National Retail Federation, which released its annual holiday sales forecast Thursday, says retail sales will increase between 3.8 percent and 4.2 percent during the last two months... Continue reading at Advertising Age
[ Advertising Age | 2019-10-03 19:49:51 UTC ]
More news stories like this | News stories tagged with:
#cyber monday
#direct impact
#consumer confidence
#physical stores
#digital media
Anheuser-Busch InBev is poised to launch Bud Light Seltzer as part of a new product blitz, according to reports from two beer trade publications. Citing sources from the brewer’s distributor meeting this week, Beer Business Daily reported that the brewer was developing a seltzer line extension... Continue reading at Advertising Age
[ Advertising Age | 2019-09-13 13:12:06 UTC ]
More news stories like this | News stories tagged with:
#product launches
#bud light
#fourth quarter
#wieden kennedy
#super bowl
#nielsen
Softness in John Wiley’s education publishing and professional learning group limited growth in the first quarter ended July 31, 2019, to 3%, and contributed to a 87% drop in operating income. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-09-05 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#john wiley
#operating income
Roughly a week after it announced it was cancelling its planned purchase of LSC Communications due to objections from the Department of Justice, Quad reported that second quarter sales fell 1.2% compared to a year ago. It had a net loss of $14.7 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-31 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#planned purchase
#2% compared
#net loss