Indigo Books and Music has reported that they have generated $206 million dollars for the first quarter of 2017, which is an increase of 6.8% over the same period last year. This is the 15th straight quarter that the bookseller has been profitable. Total comparable sales, which includes both online sales and comparable store sales, increased by 5.0%. Revenue growth was … [Read more...] about Chapters Indigo Increases Sales by 6.8% in Q1 2017
Bookselling News
Top Digital Publishing and Business News Stories of the Week
This week a number of notable news stories have been released and this week. Barnes and Noble hired a new executive and Amazon disappointed Wall Street with lower than expected financial results. The New York Times is also maintaining their focus on digital content and posted a increase in subscribers. Amazon Amazon delivered a disappointing second quarter report after … [Read more...] about Top Digital Publishing and Business News Stories of the Week
Activist Investor Recommends Barnes and Noble Go Private
Barnes and Noble is a public company and everything they do is scrutinized by the media. The decline in bookstores and their beligered Nook unit are the subject of thousands of news articles and investors. Negative sentiment surrounds the bookseller and investors are urging the them to go private. Sandell Asset Management, a private, alternative asset management firm, said … [Read more...] about Activist Investor Recommends Barnes and Noble Go Private
Rakuten Kobo CEO Discusses Tolino, Shelfie and Kobo Plus
Kobo Books is the third largest e-book and e-reader company in the world and their primary focus is underserved markets. Instead of competing in the ultra-competitive US market they instead developed infrastructure to sell their line of products in bookstores all over Australia, Canada, Europe and the United Kingdom. The company started out as Shortcovers in 2009, which was … [Read more...] about Rakuten Kobo CEO Discusses Tolino, Shelfie and Kobo Plus
Barnes and Noble Education Sales Increase by 16.3%
Barnes and Noble Nook Education has just reported that in the last quarter they generated $342.8 million, an increase of $48 million or 16.3%. Total sales for the full fiscal year were $1.87 billion compared with $1.81 billion from the prior fiscal year, an increase of $66.4 million or 3.7%. In the last calendar year the company signed new contracts with estimated annual sales … [Read more...] about Barnes and Noble Education Sales Increase by 16.3%
Pearson sells Bertelsmann their 22% stake in Penguin Random House
Pearson has disclosed that they are in the midst of selling their 22% stake in Penguin Random House to Bertelsmann. When this $3.55 billion dollar deal is completed, Bertelsmann will own 75% of the publishing company that is responsible for 3/4 of all books printed per year. Thomas Rabe, Chairman and CEO of Bertelsmann, said: “Penguin Random House is a success story. We … [Read more...] about Pearson sells Bertelsmann their 22% stake in Penguin Random House
Barnes and Noble Hires a New VP of Stores
Barnes and Noble wants to focus on bookstore development and the company has hired a new VP of stores to make this happen. Carl Hauch has been named Vice President, Stores, effective immediately. In his new role, Mr. Hauch will be responsible for the entire retail store organization and profitable growth of the business, driving sales, training, developing talent and … [Read more...] about Barnes and Noble Hires a New VP of Stores
Book Sales have increased in the first six months of 2017
The sales of hardcover and softcover print books have increased by 3% in the first six months of 2017. Major and medium sized publishers have reported that the total sales in this period were $310.7 million, up from 302.8 million a year ago. Adult nonfiction unit sales increased 2% over the first half of 2016, while adult fiction sales rose just under 1%. The lone bright … [Read more...] about Book Sales have increased in the first six months of 2017
Barnes and Noble is Moving the Nook Section to the Back of the Store
Barnes and Noble is gravitating their Nook section from the front of the store to the back. Hundreds of locations have already moved the entire display area and the rest will be doing it within the next few months. Relocating the entire Nook section to the back of the bookstore will have its drawbacks. It will result in fewer impulse buys and less e-readers and tablets will … [Read more...] about Barnes and Noble is Moving the Nook Section to the Back of the Store
Amazon has destroyed UK Bookstores
When Amazon first opened operations in the United Kingdom in 2000, the behemoth "slowly ate away at the High Street market. The Seattle company now controls 60% of all physical books sold and 95% of the e-book market. The casualties have been extensive: most chains, including Borders, Ottakar's, Dillons, Hammicks and James Thin, have gone out of business. Indie bookstores … [Read more...] about Amazon has destroyed UK Bookstores