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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Total revenue at Educational Development Corp. dropped 8% in the first quarter of fiscal 2020, to $27.6 million, from the comparable period a year ago. Earnings, meanwhile, fell from $1.8 million a year ago to $1.3 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-24 04:00:00 UTC ]
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ComicHub, a point of sale software platform that collects sales data from comics shops, has reached an agreement to supply POS data on graphic novel and comics sales to NPD BookScan. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-19 04:00:00 UTC ]
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IVP has increased its sales over 16% from last year with a mix of old and new bestsellers, a new distribution partnership, and Amazon’s marketing services. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-09 04:00:00 UTC ]
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Special Counsel Robert S. Mueller III’s report on Russian interference in the 2016 U.S. presidential election has become something of a publishing phenomenon, with several book versions of the report flying off bookstore shelves. Now a San Diego publisher is planning to release a version of... Continue reading at Los Angeles Times
[ Los Angeles Times | 2019-06-24 19:00:00 UTC ]
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Editor Justin Eisinger says illustrating the controversial report is "the easiest way to get people to actually read it.” Continue reading at The Huffington Post
[ The Huffington Post | 2019-06-21 23:40:17 UTC ]
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A slew of promotions came to Hachette Book Group's sales department this week that are related to a restructuring of the department due in part to the departure of some employees . Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-05-22 04:00:00 UTC ]
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Stephen Clarke is stepping down as group chief executive at W H Smith with high street m.d. Carl Cowling to take on the role, as the group reports strong sales in its latest report. Continue reading at The Bookseller
[ The Bookseller | 2019-05-21 07:15:56 UTC ]
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Penguin Random House has declined to make any public comment on a press report that Barack Obama’s post-White House memoir has been pushed back until 2020. Continue reading at The Bookseller
[ The Bookseller | 2019-05-09 00:00:00 UTC ]
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Revenue at Hachette Book Group rose 3.3% in the first quarter ended March 31, 2019, over the comparable period in 2018. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-05-07 00:00:00 UTC ]
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Sales at Simon & Schuster rose 3% in the first quarter of 2019 over the comparable period in 2018, rising to $164 million from $160 million a year ago. Operating income increased 6%, to $17 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-05-03 04:00:00 UTC ]
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Amazon has recorded a record profit of $3.6billion, with its first quarter sales up 17% to $59.7billion. Continue reading at The Bookseller
[ The Bookseller | 2019-04-27 00:00:00 UTC ]
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It was a good year for comics, and the graphic novel market in 2018 was dominated by one category: kids'; and that category was dominated by just one series: Dav Pilkey's Dog Man. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-04-17 00:00:00 UTC ]
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Led by gains in its juvenile nonfiction imprints, Independent publisher Sourcebooks reports an overall increase in sales of 17% in 2018. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-03-29 00:00:00 UTC ]
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Booksellers in French-language Canada are required to carry extensive backlist titles but say sales of them are slow and require staff training. The post In Québec: New Report Cites Book Sales Uptick; Booksellers Debate Backlist appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-03-29 00:00:00 UTC ]
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As ebook sales continue to grow in Spanish-language markets, the new report from the Dosdoce and Bookwire.es shows digital subscription services are also gaining consumer traction. The post Report: Spanish-Language Subscription Digital Sales Gain in Revenues appeared first on Publishing... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-03-26 00:00:00 UTC ]
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Baltimore Mayor Catherine E. Pugh did not fully disclose the $500,000 business relationship she started in 2011 with the University of Maryland Medical System during the time she was a state senator, a period during which she sat on the hospital network’s board of directors and oversaw issues... Continue reading at Baltimore Sun
[ Baltimore Sun | 2019-03-16 00:00:00 UTC ]
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The number of children and young people who read every day and the percentage of those who read for pleasure have declined, according to research carried out by the National Literacy Trust for World Book Day. Continue reading at The Bookseller
[ The Bookseller | 2019-03-05 00:00:00 UTC ]
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A 7% decline in fourth quarter revenue led to a 0.6% drop in sales for the full year at Simon & Schuster. The publisher still posted a 6% increase in operating profits over 2017. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-02-15 00:00:00 UTC ]
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Hachette UK c.e.o. David Shelley hailed a "very strong" fourth quarter for the publisher, as parent company Lagardère reported a revenue drop of 1.2% like-for-like for the full-year 2018. Continue reading at The Bookseller
[ The Bookseller | 2019-02-08 00:00:00 UTC ]
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Overall book sales in the Czech Republic are up as the number of new titles published declines slightly. Industry consolidation and a focus on high-performing books may be the cause. The post Czech Book Sales Rise Amid Ongoing Industry Consolidation appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-02-05 00:00:00 UTC ]
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