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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Unbridled Books is partnering with the American Booksellers Association to promote the organization’s IndieCommerce program. For three days Unbridled is offering 25 of its titles in ebook format for 25 cents exclusively through the approximately 250 independent bookstores that are set up to sell... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-06-07 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Fri, 03/06/2011 - 10:03 Rider Books has acquired a non-fiction book telling readers how to use philosophy to improve their everyday life by journalist and blogger Jules Evans. Rider Books commissioning editor Sue Lascelles bought world rights,... Continue reading at The Bookseller
[ The Bookseller | 2011-06-03 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Fri, 03/06/2011 - 14:25 Unbound, a publishing platform that allows readers to choose what is published, was devised as a response to the difficulties of the existing publishing model, with the programme aiming to get 35 to 40 projects off the... Continue reading at The Bookseller
[ The Bookseller | 2011-06-03 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Thu, 02/06/2011 - 08:54 Orion has acquired The Pure Package: The Diet for Food Lovers by food and health entrepreneur Jennifer Irvine. Orion non-fiction editorial director Amanda Harris bought world rights to the title from agent Clare Hulton,... Continue reading at The Bookseller
[ The Bookseller | 2011-06-02 00:00:00 UTC ]
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Written By: Gayle Feldman Publication Date: Wed, 01/06/2011 - 09:09 There was no one standout book of the fair at last week's Book Expo America however, talk continued to dominate the stands and aisles of those likely to succeed in the months to come. Here are some of the books highlighted by... Continue reading at The Bookseller
[ The Bookseller | 2011-06-01 00:00:00 UTC ]
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Written By: Bookseller Staff Publication Date: Wed, 01/06/2011 - 09:14 Three in 10 children live in households that do not contain a single book, according to a new survey. read more Continue reading at The Bookseller
[ The Bookseller | 2011-06-01 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 31/05/2011 - 16:21 An Edinburgh independent has proposed an alternative to World Book Night next year, where readers buy tickets to attend book swap events across the country. Vanessa Robertson, co-owner of the Edinburgh Bookshop, said she has... Continue reading at The Bookseller
[ The Bookseller | 2011-05-31 00:00:00 UTC ]
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Written By: Benedicte Page Publication Date: Tue, 31/05/2011 - 08:00 Poet laureate Carol Ann Duffy has organised a benefit for the Poetry Book Society, which faces an uncertain future following the withdrawal of all its Arts Council funding. The event, to be held at London's Institute of... Continue reading at The Bookseller
[ The Bookseller | 2011-05-31 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 31/05/2011 - 16:09 Lonely Planet has brought three of its photo-heavy travel books to Apples iBookstore for the first time from today. The travel publisher is offering Lonely Planet's Best in Travel for free until 14th June with The Travel Book... Continue reading at The Bookseller
[ The Bookseller | 2011-05-31 00:00:00 UTC ]
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ADMINISTRATORS for the troubled book retailers Borders and Angus & Robertson have warned both chains may close if buyers can't be found. Continue reading at The Sydney Morning Herald
[ The Sydney Morning Herald | 2011-05-30 00:00:00 UTC ]
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This years BookExpo America, an annual publishing business trade show, is full of talk of e-reading and other shifts in the industry. Continue reading at The New York Times
[ The New York Times | 2011-05-26 00:00:00 UTC ]
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A pricing war among the big guns of the book industry is causing pain at the checkout screen, but sprouting new opportunities for writers and readers. Continue reading at PC World
[ PC World | 2011-05-26 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Tue, 24/05/2011 - 08:46 Beautiful Books has launched its own summer reading campaign, providing POS material and an extra 5% off the selected titles ordered by independent bookshops. The four titles being promoted through the Go Against the... Continue reading at The Bookseller
[ The Bookseller | 2011-05-24 00:00:00 UTC ]
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Written By: Katie Allen Publication Date: Tue, 24/05/2011 - 15:17 Aurum Press has bought a book delving into archive material from science fiction television show Star Trek. Commissioning editor Sam Harrison acquired UK and Commonweath rights to Star Trek Vault: 40 years from the Archives from... Continue reading at The Bookseller
[ The Bookseller | 2011-05-24 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Mon, 23/05/2011 - 15:41 Simon & Schuster has defended its publication of Will & Kates Big Fat Gypsy Wedding as fun and gently humorous after Tesco withdrew the book from sale, following complaints. The supermarket pulled the title after... Continue reading at The Bookseller
[ The Bookseller | 2011-05-23 00:00:00 UTC ]
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Google's eBooks electronic bookstore now contains about 3 million free titles, up from 2 million when it was launched in December. Continue reading at PC World
[ PC World | 2011-05-23 00:00:00 UTC ]
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Booksellers attending the Canadian Booksellers Association's National Conference in Toronto, May 1315, were introduced to innovations from two Canadian companies designed to help bricks-and-mortar stores sell ebooks. Transcontinental Printing demonstrated its ebook distribution system, which... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-05-23 00:00:00 UTC ]
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While the Rapture isnt scheduled to occur until Saturday, according to members of certain religious fringe groups, it looks like doomsday has come early for publishers of print books. Amazon announced Thursday that sales of ebooks on the site have finally surpassed combined sales of hardcovers... Continue reading at AdWeek
[ AdWeek | 2011-05-20 00:00:00 UTC ]
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As a former Amazon Associate, I can tell you that a great many sales of Kindle Books are for the 99¢ complete Dickens, etc. Movie critic and Web publisher Roger Ebert, providing some context for Amazons stat about Kindle ebooks outselling print books. Continue reading at AllThingsD
[ AllThingsD | 2011-05-20 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Thu, 19/05/2011 - 12:19 Readers are being called to cast their vote for the Independent Booksellers Book Prize winner, after the shortlist was announced today. The annual award, which recognises works of fiction for adults and children, asks members... Continue reading at The Bookseller
[ The Bookseller | 2011-05-19 00:00:00 UTC ]
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