Records for S&S
-- Publishers Weekly, 3/3/2008
Solid gains in its adult group and double-digit increases in the smaller audio and international divisions combined to boost sales and earnings to record levels at Simon & Schuster in 2007. The weak spot in the year was the children’s group, where sales were flat.
New CEO Carolyn Reidy said that while sales were up across all distribution channels, the biggest increase came at Amazon. The company also did a brisk business in foreign rights, led by The Secret, which is being sold in 41 foreign markets. In all, S&S shipped seven million copies of Secret worldwide last year, plus another million copies of the audio edition. While sales of digital downloads of audio rose by 100% in 2007, sales of other digital products are not yet significant, Reidy said. Nevertheless, S&S has digitized 14,000 titles and expects to soon sign an agreement with an outside vendor to help it distribute its digital content.
| 2006 | 2007 | %chnge | |
| Sales | $807.0 | $886.1 | 9.8% |
| Op. income | 68.5 | 88.1 | 28.6 |
| Op. margin | 8.5% | 9.9% | - |
