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Earnings Fell in the First Half of 2022 at PRH
High inflation and supply chain challenges combined to drop earnings at Penguin Random House 20.7% in the first half of 2022 compared to a year ago. Revenue rose 6.2%, to €1.92 billion, but even there the news was disappointing with parent company Bertelsmann noting that excluding the favorable impact of currency exchange, sales declined from 2021.
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Quarto Posts Big Jump in Profits
Quarto Group reported that revenue rose 9% in the first six months of 2022 over the comparable period in 2021, to $61.9 million, and net income jumped 124%, to $4.7 million.
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Trade Publishing Sales Flat in First Half of 2022
A 2.6% decline in sales of adult titles was offset by a 4.3% increase in sales of children’s/YA books in the first six months of 2022 compared to the first half of 2021. According to AAP's StatShot program, trade sales were $3.82 billion in the first half of the year, compared to $3.84 billion in the first six months of 2021.
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HC Sales Topped $2 Billion in Fiscal 2022
Sales rose 10% at HarperCollins, to $2.19 billion, in the fiscal year ended June 30, 2022, but higher costs limited the increase in profits to 1%.
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Sales, Profits Skyrocket at S&S in Q2
Second quarter sales jumped 34% over last year’s second quarter at Simon & Schuster, and operating income leapt 54%. The strong results followed a first quarter which CEO Jonathan Karp said "defied gravity."
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May Sales Were Soft, AAP Reports
In the AAP’s newest StatShot update, May trade sales were mixed and sales of higher educational course materials fell, leading to a 3.7% sales decline compared to May 2021 for the 1,368 publishers that report sales to the association.
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Online Sales Fell 4% at Amazon
Sales in Amazon's online business fell 4% in the second quarter ended June 30, 2022, to $50.8 billion. Analysts attributed the decline to more people shopping in physical stores as well as an overall slowdown in consumer spending.
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Higher Costs Drop Profits at Hachette
Revenue for Lagardère Publishing rose 7.7% in the first-half 2022 over 2021, but earnings fell 29% due higher production, transportation, and labor costs. Results at HBG followed a similar pattern.
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Sales, Earnings Rebounded in Fiscal 2022 at Scholastic
Following a soft fiscal 2021, a 162% increase in its book fair business and strong demand for its educational offerings drove sales up 26% in fiscal 2022 at Scholastic.
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A Bad Period for EDC
After posting record financial results a year ago, sales at Educational Development Corp. plunged 43%, in the quarter ended May 31, 2022, and the company reported quarterly net income of $216,000, compared to $3.4 million last year.
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Industry Sales Fell 12.6% in April
With sales in all categories falling, publishers who provide results to AAP’s StatShot program reported a 12.6% decline in sales in April compared to a year ago, resulting in a 2.3% drop in industry sales through the first four months of 2021.
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Comics/Graphic Novel Sales Jumped 62% in 2021
Sales of comics and graphic novels rose 62% in 2021 over 2020, according to a new joint estimate by ICv2 and Comichron. Total comics and graphic novel sales to consumers in 2021 in the U.S. and Canada were approximately $2.07 billion.
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Barnes & Noble Education Sees Improvement
Following a poor fiscal 2021, B&N Education mitigated its losses in fiscal 2022 as sales rose, but acknowledged that Covid was one of a host of issues its faced in the year.
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Wiley Sales Topped $2 Billion in Fiscal 2022
Wiley overcame a decline in its education publishing segment to post a 7% increase in revenue for the fiscal year ended April 30, 2022 and a 18% increase in operating income.
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LGBTQ Fiction Sales Surge in the U.S.
A recent report from NPD BookScan found that U.S. print book sales of LGBTQ fiction reached nearly 5 million units in 2021, doubling 2020 sales.
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Bloomsbury Has a Record Year
Sales in fiscal 2022 at Bloomsbury Publishing were up 24% over fiscal 2021, rising to $277 million, and profits increased 40%, to $32.2 million. The U.S. now accounts for about 30% of the publisher's sales.
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Trade Publishing Sales Rose 2.6% in Q1
Sales of adult trade books fell slightly in the first quarter of 2022 from the comparable period in 2021, but children's sales increased 10.2% at publishers that report to AAP's StatShot program.
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Print Book Sales Fell 6% Again Last Week
The spring sales trend of weekly declines of about 6% continued last week, with unit sales of print books dropping 6.4% compared to the week ended May 22, 2021, at outlets that report to BookScan.
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EDC's Revenue Returns to Earth
After hitting a record high of $204.6 million in the fiscal year ended February 28, 2021, revenue at Educational Development Corp. fell 30.3% in fiscal 2022, dropping to $142.2 million. Net earnings declined 34.1%, to $8.3 million.
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Q1 Bookstore Sales Up 16% Over 2021, but Trail 2019
March bookstore sales increased 12.5% over a year ago, contributing to a 16% gain in the first quarter of 2022 over the comparable period in 2021. The $1.99 billion in 2022 first quarter sales, however, was 2.5% below the first period of 2019.
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