Quarterly Results Down At HC
Revenue at HarperCollins fell 5%, to $446 million, in the quarter ended Dec. 31, 2015, compared to the previous year. Earnings dropped 26%, to $57 million. The company attributed the decline to fewer e-book sales and fewer sales of books in the Divergent series.
Indigo Restructures
Indigo Books & Music has laid off a number of veteran book buyers, as part of a downsizing that cut about 20 employees. The store confirmed it underwent a “reshaping” in January, but said it remains fully committed to the book business.
