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 ]
News tagged with:
#puts pressure
#ernst young
#leonard riggio
Biteback has acquired world rights to a book from Vicky Pryce, who has just finished a prison... Continue reading at The Bookseller
[ The Bookseller | 2013-05-13 00:00:00 UTC ]
More news stories like this |
Like most comics publishers, Archie Comics, home to America’s favorite fictional redheaded teenager, has historically focused its distribution on newsstand sales and the comics specialty market. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-05-12 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#comics publishers
#archie comics
#newsstand sales
At Publishers Weekly’s May 8 discussion series on trends in consumer book-buying, held at the offices of Random House in New York City, Carl Kulo, U.S. director of Bowker Market Research, highlighted the major shifts that took place in 2012 in such key areas as sales by format and by channel. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-05-11 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#online retailers
#e-books gained
#random house
#major shifts
#key areas
Short Books has acquired a thriller written by Justin Huggler, former foreign correspondent for... Continue reading at The Bookseller
[ The Bookseller | 2013-05-10 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#short books
#thriller written
#foreign correspondent
A US federal appeals court has questioned the reasoning behind a class-action lawsuit against Google over its effort to digitise millions of books, suggesting that many authors could benefit from the project. Continue reading at Stuff
[ Stuff | 2013-05-09 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#class-action lawsuit
A range of exclusive Beatles content is being used in a "nine-month pre-publication... Continue reading at The Bookseller
[ The Bookseller | 2013-05-09 00:00:00 UTC ]
More news stories like this |
Birlinn imprint Arena Sport is to mark Sir Alex Ferguson’s last season at Manchester United... Continue reading at The Bookseller
[ The Bookseller | 2013-05-09 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#manchester united
A pair of Eastern European authors — Laszlo Krasznahorki and Nichita Stanescu — take home the 2013 Best Translated Book Awards. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-08 00:00:00 UTC ]
More news stories like this |
Peter Gordon of Hong Kong's Chameleon Press and Jo Lusby of Penguin China talk discuss the developing English-language market for books in China. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#hong kong
The Bogota International Book Fair convenes nearly the entire Colombian publishing industry and focuses on bringing the region's books and authors to the public. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-06 00:00:00 UTC ]
More news stories like this |
Do extravagant stands at book fairs make a difference? Are they a mere splurge, or might they spark the interest of an investor or catch the eye of an author or agent? Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-06 00:00:00 UTC ]
More news stories like this |
Jeanenne Ray, Senior Marketing Manager at Wiley, will speak at the Reaching Readers conference about how publishers can build strong readers communities. Here is a sneak preview of her talk. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-06 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#sneak preview
"The Rumor" by Anushka Ravinshankar and "Kids of Kabul" by Deborah Ellis have won the 2013 South Asia Book Awards for Children’s and Young Adult Literature. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-04 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#ya literature
The German Book Office's May Book of the Month is Rudolf Herzog’s "A Short History of Nuclear Folly: Mad Scientists, Dithering Nazis, Lost Nukes, and Catastrophic Cover-Ups." Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-04 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#short history
In Brazil, Saraiva gets a new CEO, the Ministry of Culture moves oversite of book policies back to Brasilia, and a university press finds success with free ebooks by its professors. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-03 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishnews brazil
#free ebooks
Free Comic Book Day will be held on May 4 and will give comic book fans a chance to receive free comic books including issues from series like 'Superman' and 'Walking Dead'. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-05-03 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#walking dead
This month's starred self-published titles include a novel about lesbian nuns in pre-WWII Germany and a memoir from the daughter of 1960s cult leaders, among others. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-02 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#top reviews
#self-published books
#blueink review
Book sales in Bulgaria were up 10% in 2012, with publishers reporting more than 5,000 books were published the previous year, of which 1,500 were translations. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-05-02 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#book sales
Total book sales in digital and physical formats grew 4% in 2012 to a total of £3.3bn,... Continue reading at The Bookseller
[ The Bookseller | 2013-05-01 00:00:00 UTC ]
More news stories like this |
David Fickling has achieved two nominations for the Branford Boase Award, a prize given each year... Continue reading at The Bookseller
[ The Bookseller | 2013-05-01 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#david fickling