Indigo Books and Music has reported a loss of $36.8 million dollars in 2018, whereas in 2017 they generated $22.0 million in profit. Total comparable sales, including both online sales and comparable store sales, decreased by 1.1%.One of the big reasons why the largest bookselling chain in Canada suffered a loss was because of major store renovations, relocations, store … [Read more...] about Indigo Books and Music reports a $36.8 million dollar loss in 2018
Bookselling News
Penguin Random House and Hachette will distribute to Indie Bookstores
Baker and Taylor is closing their wholesaling business this summer and this has put thousands of independent bookstores without a book distributor. In order to pick up the slack Penguin Random House, Hachette and the Independent Publishers Group have announced new programs to get their titles into bookstores in the United States.Penguin Random House has an Indie Express … [Read more...] about Penguin Random House and Hachette will distribute to Indie Bookstores
Baker and Taylor is no longer distributing books
Baker and Taylor is no longer distributing books to bookstores and they are instead going to focus on libraries. Baker & Taylor's subsidiary businesses in the U.K. and Mexico are also not affected by this change. The Ingram Content Group is now going to be the sole book distributor for bookstores in the United States."Public libraries have always been core to Baker … [Read more...] about Baker and Taylor is no longer distributing books
Hachette states that ebooks account for 7.9% of global revenue
Hachette has reported that in 2018 global revenue was €2.52 billion. Canada and the US accounted for 29% of their revenue, which was around $736 million dollars. This was an overall increase of 27% from 2017.In a prepared statement, HBG CEO Michael Piestsch said: “HBG’s increased profits in 2018 were the result of superb publishing across our divisions, solid revenue … [Read more...] about Hachette states that ebooks account for 7.9% of global revenue
Barnes and Noble had a profitable holiday quarter
Barnes and Noble has announced that in the last three months of 2018 they generated $1.2 billion and net income was $66.9 million. Comparable store sales increased 1.1%, which was their best performance in several years. Book sales decreased 1.2% for the quarter. Trade paper, kids and young adult book sales fell short.Allen Lindstrom the CFO of B&N said that "Online sales … [Read more...] about Barnes and Noble had a profitable holiday quarter
Amazon is going to focus on opening up more bookstores
Amazon is in the process of shuttering 87 pop-up stores and they instead will focus on opening up more bookstores. This will provide a better avenue to sell Kindle e-readers, books and Alexa enabled products.“Across our Amazon network, we regularly evaluate our businesses to ensure we’re making thoughtful decisions around how we can best serve our customers,” an Amazon … [Read more...] about Amazon is going to focus on opening up more bookstores
Canadian print book sales remain flat between 2017 and 2018
Print book sales in the Canadian English-language trade market remained flat in 2018 when compared to the year previous, according to sales reported to BNC Sales Data by a subset of comparable retailers used for year-over-year analysis. There was also little change in the breakdown between Fiction, Non-Fiction, and Juvenile sales. In 2018, 39.5% of all print books sold were in … [Read more...] about Canadian print book sales remain flat between 2017 and 2018
Barnes and Noble finally experiences holiday growth
Barnes and Noble has a brutal holiday season last year and they promised that in 2018, things would be different. The bookseller has just reported that comparable store sales increased 4.0% between Black Friday and New Year’s Day and 1.3% for the nine-week holiday period ending December 29, 2018, making the best comparable sales performance for B&N in several years. They … [Read more...] about Barnes and Noble finally experiences holiday growth
Indie bookstores sales increase by 5% in 2018
Independent bookstores in the United States have seen their revenue increase by 5% in 2018. This news stems from American Booksellers Association's CEO Oren Teicher who thanked publishers for their support. He cited the drop of the cost of books over the past few years is a direct result of bookstores generating more revenue. He also praised efforts to increase pre-order sales … [Read more...] about Indie bookstores sales increase by 5% in 2018
Mental health and books on anxiety are popular in 2018
Wattpad has 72 million users and they consume self-published stories at a ravenous pace. In 2018 one of the biggest trends was mental health and ebooks on depression and anxiety. This genre saw an increase of 52% and over 152,000 new stories were uploaded. One of the most notable examples of this trend was a book called Saving Everest, with 16.9 million reads to date, … [Read more...] about Mental health and books on anxiety are popular in 2018
Michelle Obama’s Becoming is the Top Best Selling Book of 2018
Michelle Obama's autobiography Becoming is the number one bestselling book in the world. Which is shocking considering it only came out on November 13th. On the very first day it sold 725,000 copies and 17 days later it has sold a staggering 3.4 million copies in Canada and the United States. This includes audiobook sales, ebooks and large print editions. Sales are brisk in … [Read more...] about Michelle Obama’s Becoming is the Top Best Selling Book of 2018
Barnes and Noble Plans to Open 15 New Stores in 2019
Barnes and Noble plans on opening up to 15 new stores in 2019. Some of these are existing stores that are closing down due to the high price of a new lease and others will be new areas. Carl Hauch, VP of stores said that roughly one-quarter of the 2019 stores be in new locations.Many of the new stores that are going to be opening will be smaller in size. Existing bookstores … [Read more...] about Barnes and Noble Plans to Open 15 New Stores in 2019
Book sales decreased by 3% at Barnes and Noble
Barnes and Noble has disclosed that this summer they saw a decline in book sales by 3%. The bookseller saw an increase in sales from adult hardcovers and saw a modest improvement on trade paper, kids, and young adult categories. Non-books increased 1.9%, led by toys and games growth, cafe and better gift results. Overall, B&N  consolidated sales decreased $20 million or … [Read more...] about Book sales decreased by 3% at Barnes and Noble