Barnes & Noble Inc., the struggling bookseller, reported "material weakness" in its accounting and restated three years of financial results. Investors seemed alarmed by more bad news from the unprofitable retailer whose chief executive stepped aside earlier this month and they bid down its stock by 4%.Barnes & Noble said Monday that errors in reporting sales and occupancy costs, plus an inaccurate tally of income-tax refunds received when it was unprofitable in 2011 and 2012, caused the company to over-report losses over those two years by $9 million. Actual losses over those two years were $134 million, not the $143 million, the company.In 2010, the company's last profitable year, Barnes & Noble said it really earned $43 million instead of the $37 million initially reported. The company said it previously had overstated sales and occupancy costs and understated the amount it owed in taxes. It in fact paid $12 million in income taxes that year, 50% more than the previously reported amount.The bookseller said the errors resulted from "inadequate controls over the accrual reconciliation process at its distribution centers" and it is working to fix the problem.A spokeswoman for the bookseller didn't immediately return a call seeking comment.The accounting problems seem to stem from the company's decision to buy more books directly from publishers instead of wholesalers. In its annual report, Barnes & Noble said it has invested significantly in new warehouses... Continue reading at 'Crains New York'
[ Crains New York | 2013-07-30 00:00:00 UTC ]
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Sure, the Seattle Public Library's world-record breaking "book domino chain" is awesome, but how about these amazing shots of book stack architecture from bookstores in Japan. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-06-07 00:00:00 UTC ]
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Straightforward, above-board dealings or clever obfuscation? Another one for the judge to decide. Continue reading at AllThingsD
[ AllThingsD | 2013-06-06 00:00:00 UTC ]
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This year’s Bookseller Association Conference will take place on 22nd-23rd September and... Continue reading at The Bookseller
[ The Bookseller | 2013-06-06 00:00:00 UTC ]
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Patricia van Rhijin, director at CIDCLI, discussed the problems getting Mexican children's books published in the US. American publishers are 'so square,' she says. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-06-06 00:00:00 UTC ]
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We have teamed up with the NZ Post Children's Books Awards and asked kids to tell us about their favourite books. Continue reading at Stuff
[ Stuff | 2013-06-06 00:00:00 UTC ]
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It turns out that Apple isn't the only major ebook retailer that demands "most favored nation" agreements from publishers. Continue reading at AllThingsD
[ AllThingsD | 2013-06-06 00:00:00 UTC ]
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BookExpo America's Middle Grade Buzz Books panels previewed five titles editors are most excited about publishing this fall. Expect them to get a big push in bookstores. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-06-05 00:00:00 UTC ]
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Self-published books receiving starred reviews from BlueInk this month include a novel about a wisecracking cat that investigates the death of its owner and a memoir of escaping Romania under Soviet rule. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-06-05 00:00:00 UTC ]
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While a high-calibre jury of writers and critics ponders the nominees for this year's Children's Book Awards, we have asked the true experts. Continue reading at Stuff
[ Stuff | 2013-06-04 00:00:00 UTC ]
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Helen Fielding discussed her new book, the third in the 'Bridget Jones' series, during Book Expo America in New York City. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-06-04 00:00:00 UTC ]
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NEW YORK -- Apple and major publishers conspired in a scheme to fix prices on ebooks, costing consumers hundreds of millions of dollars, a U.S. Justice Department attorney argued during the first day of a marquee antitrust trial. Continue reading at Los Angeles Times
[ Los Angeles Times | 2013-06-04 00:00:00 UTC ]
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Tthe US Department of Justice's suit against Apple alleging ebook price-fixing goes to trial on June 3 in Manhattan. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-06-04 00:00:00 UTC ]
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The Jörgits, an indie fantasy novel for kids nine and up, uses interactivity as a supplement to the story, not a stand-in for it. If there’s one reading experience that truly has been transformed by the interactive wonders of the tablet, it’s got to be the children’s book. Apps like The... Continue reading at Fast Company
[ Fast Company | 2013-06-03 00:00:00 UTC ]
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Children's Laureate Julia Donaldson has criticised the media for a lack of review and feature... Continue reading at The Bookseller
[ The Bookseller | 2013-06-03 00:00:00 UTC ]
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There are so many things wrong with the new book The MILF Diet by former Whole Foods chef Jessica Porter it's difficult to know where to begin. But its name is probably the most glaring so let's dive in there. Continue reading at Stuff
[ Stuff | 2013-06-03 00:00:00 UTC ]
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Apple heads to a U.S. federal court Monday to face civil accusations that it conspired with five publishers to drive up the price of electronic books in the weeks leading up to the 2010 introduction of the iPad. Continue reading at AllThingsD
[ AllThingsD | 2013-06-03 00:00:00 UTC ]
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The Commonwealth Book Prize has been won by UK debut author Lisa O'Donnell, while the... Continue reading at The Bookseller
[ The Bookseller | 2013-06-01 00:00:00 UTC ]
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The National Book Critics Circle recently surveyed reviewers about whether ethics guidelines are necessary for the industry. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-05-31 00:00:00 UTC ]
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Book Expo America, BEA, used to be the place to go to get your hands dirty with printer's ink--all the books were hot off the presses. Now the annual industry gathering at New York City's Javitz Center has been increasingly invaded by geeks. I'm one of these geeks, despite the fact that I've... Continue reading at Fast Company
[ Fast Company | 2013-05-31 00:00:00 UTC ]
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An interactive children's book to help kids think outside the box is the May showcase winner of data competition Mix & Mash. Continue reading at Stuff
[ Stuff | 2013-05-31 00:00:00 UTC ]
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