Book Sales Fell 3% At Reader's Digest

Worldwide book sales fell 3.6%, to $801.8 million, at Reader's Digest in the fiscal year ended June 30, 2001, according to figures in the company's 10-k filing with the Securities and Exchange Commission. The figures amplify what RD chairman Thomas O. Ryder has been saying about the results of its book operations—that sales were particularly weak in North America, especially in its general books group.

Revenues in the general books group, RD's largest book segment, fell 6.3%, with sales in North America plunging 17.6%, to $85.4 million. Sales in the international market were only off 2.8%, to $330.8 million. Total sales of Select Editions fell 2.7%, with domestic sales down to $97.7 million from $102.5 million, while international sales fell to $161 million from $163.5 million. The series books segment had a 4.4% revenue gain in the year, with North American sales up 4.5%, to $30.1 million, and international sales ahead 4.4%, to $96.8 million.

Total North American book sales were off 9.2% in fiscal 2001, to $213.2 million, while international sales slid 1.3%, to $588.6 million.

The filing also had some new numbers for the company's Books Are Fun unit. The unit sells books and related materials to 60,000 schools, 12,000 corporations and institutions, 9,000 daycare centers and 20,000 small businesses. Last year, Books Are Fun purchased books from more than 250 publishers, and, in a number of cases, acquired more than 100,000 copies on a nonreturnable basis.