and more.
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Sales, Earnings Down at HC in Fiscal 2020
An improvement in fourth quarter profits for the period ended June 30, 2020, was not enough to prevent earnings for the full year at HarperCollins from dropping 15%, to $214 million. Revenue fell 5%, to $1.67 billion, compared to fiscal 2019.
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S&S Posts Q2 Profit Gain Despite Sales Decline
Lower production and distribution costs were enough to give Simon & Schuster a 9% increase in earnings in the second quarter, despite an 8% drop in sales. Digital revenue jumped 44% in the quarter.
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Sales at HMH Took Big Hit in Q2
A 38% plunge in sales in its education group in the second quarter of 2020 led to an overall decline of 35.5% in sales at Houghton Mifflin Harcourt compared to a year ago. Costs cuts limited the impact of the sales drop on the publisher's bottom line.
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Amazon Online Sales Soared in Q2
Online sales at Amazon jumped 48% in the second quarter of 2020 over the comparable period in 2019, to $45.9 billion. Total revenue rose 40% and operating income skyrocketed 87%.
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AAP Pegs 2019 Sales Growth at 1.1%
Final estimates from the AAP found a 1.1% increase in total industry sales in 2019 over 2018. Sales were estimated to be $25.93 billion. The increase was led by a 20.4% jump in sales in the preK-12 category, where sales were $4.07 billion. In the trade category, sales inched ahead 0.4%, to $16.23 billion.
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June Rebound Eases Declines at Lagardère Publishing
Revenue in the first six months of 2020 fell 7% at Lagardère Publishing compared to the same period in 2019, helped by a 20% jump in June sales. Hachette Book Group had the best performance in the period, with sales falling 1%.
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Quarto Sales Fell 17% in First Half of 2020
Revenue in the publisher's U.S. group fell 21.8% in the first half of 2020 from the comparable period in 2019, and the U.K.-based Quarto said it expects that the global pandemic will impact its results in the second half of this year.
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The Beat Goes On at Educational Development Corp.
Following a record first quarter, sales at Educational Development Corp. posted another record in June, with revenue jumping 157% over June 2019.
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Scholastic Looks to Rebound from Q4 Slump
The Covid-19 pandemic led to a 40% decline in fourth quarter revenue at Scholastic and an operating loss of $46 million. The company said it expects a "slower than normal start" to the upcoming school year, and believes it will end the current fiscal year with revenue "slightly below" fiscal 2020.
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Revenue Tumbled 71% in First Half of 2020 at Reed Exhibitions
Revenue at Reed Exhibitions, whose businesses include BookExpo, fell to £201 million, from £684 million in the first six months of 2019, and the group had an adjusted operating loss of £117 million compared to a profit of £231 million a year ago.
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