Suchomel Heads New Perseus Unit
Following a surprise departure from his post as president of the Independent Publishers Group in March, Mark Suchomel is returning to the distribution business as head of a new unit that will be part of Perseus Books Group’s Publishers Group West division. Legato Publishers Group will be based in Suchomel’s hometown of Chicago and will look to build a client list of between 30 and 40 publishers over the next two to three years.
Miller Goes to Macmillan
Bob Miller, the former publisher of Workman, will be starting at Macmillan in July, overseeing what the house is calling a new “stand-alone company” focused on publishing nonfiction in the U.S. In his new role, Miller, who’s best known in the industry for founding Hyperion in 1990 and for a three-year stint with Workman, will be reporting directly to Macmillan CEO John Sargent. Miller’s company, which does not yet have a name, will be publishing approximately three titles per month, with its first list slated for 2015.
S&S to Publish in Canada
Simon & Schuster Canada has won approval from the Canadian government to expand its operations in the country to include a publishing program. S&S has been the only multinational publisher in Canada that is prohibited from publishing Canadian books, due to foreign ownership regulations created to protect indigenous cultural industries.
Slow Start at BAM
Books-A-Million’s sales for the first quarter, which ended May 4, fell to $104.5 million, down 7.4% from the same period last year, and the company’s net loss increased to $3.7 million from $1.9 million. Comparable store sales fell 6.8%.
Revenue Down 4% at Indigo
Revenue for the fiscal year ended March 30 fell to C$893 million at Indigo Books & Music, down 4.4% from the previous year, with the Canadian chain attributing the drop primarily to declines in physical book and e-reader sales. In addition, the company operated nine fewer small-format stores last year than in the previous year. Operating earnings in fiscal year just ended were C$1.7 million, compared to a loss of C$29.6 million the previous year due to a large write off.