Sales, Earnings Fall at Wiley
Moving to sell or close its consumer publishing units as part of the biggest restructuring in the company’s history, John Wiley reported a 1% drop in revenue for the fiscal year ended April 30, to $1.76 billion, while operating income fell to $144.2 million from $212.7 million in fiscal 2012. The decline in earnings reflects a number of one-time charges, including $29.3 million in restructuring charges and $30 million in impairment charges.
CBA Sales Rise 8.55%
CBA, the association of Christian retailers, reported an 8.5% sales increase for its member stores in 2012, with increases every quarter of 2012 over 2011, despite many Christian indies reporting declines or flat sales. According to CBA’s CROSS:SCAN reporting system, about 60% of CBA stores saw 2012 sales decline, with 7% seeing flat sales and the remaining 33% posting sales 7%–15% higher than in 2011.
Robert Kennedy Publishing Parent Bankrupt
Canada-based Robert Kennedy Publishing’s parent company has filed for bankruptcy, putting the future of its book operations in doubt. Health and fitness guru Tosca Reno, widow of Robert Kennedy, the founder who died last April, blamed the closure on the economic downtown and digital disruption of print publishing.
Silverberg Leaves NEA
Ira Silverberg, literary agent turned director of literature at the National Endowment for the Arts, is leaving the job to return to New York City. Silverberg left Sterling Lord and moved to Washington, D.C., in 2011 to take the job. Amy Stolls, current literature program officer, will take over the job temporarily.