and more.
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Quarto to Close Minneapolis Office
Quarto Group said that as part of a companywide cost cutting program, it is shutting its Minneapolis office and closing its Voyageur Press imprint. The Cool Springs and Motorbooks imprints are continuing.
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Industry Sales Dipped 1.4% in First Half of 2018
The 2018 sales decline was mainly due to a 13.6% drop in sales in the K-12 instructional materials segment. The two main consumer categories had gains with adult book sales up 4.2% and children’s/young adult sales inching up 0.3% over the first half of 2017.
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Earnings Rose 23% at Wiley in Q1
Operating income rose 23.5% at John Wiley for the quarter ended July 31, over the comparable period a year ago.
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A Mixed Six Months for Large Trade Houses
The first six months of 2018 proved to be a mixed period for the five large trade publishers that report their financial results.
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Sales, Earnings Drop in First Half of 2018 at PRH
Revenue fell 3.3% in the first half of 2018 compared to a year ago at Penguin Random House, and earnings dropped 17%. The decline was attributed mainly to the negative impact of foreign exchange rates.
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B&N Education Sales Fall 5% in Q1, Loss Up Slightly
Barnes & Noble Education reported that revenue in the first quarter, ended July 28, fell to $337.5 million, down from $355.7 million a year ago.
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HC Posts Big Earnings Gain in Fiscal 2018
Capped by a blowout fourth quarter, HarperCollins reported that earnings for the fiscal year ended June 30, 2018 rose 23% over fiscal 2017, to $244 million. The earnings jump came on a 7% revenue rise, to $1.76 billion.
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Regnery Has Big Q2
Second quarter sales at Regnery rose 16.7% over 2017, but softness in Salem Media's self-publishing unit led to a 9% decline in total revenue at Salem's publishing division in the second period.
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S&S Posts Gains in Sales, Profits in Q2
Second quarter sales rose by $1 million at Simon & Schuster, and earnings increased by $2 million. Parent company CBS did not address sexual harassment charges against CEO Les Moonves in the conference call discussing results.
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HMH Trade Sales Down 15% in Q2
With sales of backlist and frontlist titles down, as well as a drop in e-book sales, revenue in HMH's trade division fell 15% In the second quarter ended June 30.
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