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Sales Down, Loss Up in “Transitional” Quarter at Borders
With Borders implementing a number of changes to its store layout, revenue fell 17.7% in the second quarter with comp sales at its superstores off 17.4%. Excluding multimedia, comps were down 13%. Borders expects sales to do better in the second half.
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Barnes & Noble Teams with IREX to offer New Digital Reader
B&N stepped up its efforts to compete with Amazon and the Kindle, announcing plans to partner with Netherlands-based IREX Technologies to offer a new wireless-enabled digital reading device with access to the 700,000 e-book titles available through the newly launched B&N eBookstore.
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Joseph Up at Globe Pequot as Publisher Refocuses
Globe Pequot Press COO Jim Joseph, who assumed Scott Watrous’s duties after his departure last month as president and publisher, has been officially named president.
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Jane Friedman Raises $3 Million
Former head of HarperCollins has disclosed in a filing with the SEC that she has raised $3 million to start OpenRoad Integrated Media.
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Author/Publisher Gives New Meaning to Handselling
Christopher Herz quit his advertising job to walk the streets of Manhattan literally selling copies of his first novel, The Last Block in Harlem, person to person.
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Africa World Press Survives a Tough Economy
The recession, reductions in school budgets and the loss of a number of major independent black bookstores has resulted in some changes at Africa World Press and Red Sea Press, but owner Kassahun Checole emphasized that the Trenton, N.J., houses remain committed to publishing a wide variety of titles on the history, culture and politics of Africa and the African diaspora.
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Sterling Moves Into Stationery
Earlier this month, Sterling began selling a line of ecofriendly writing journals through Barnes & Noble, which owns the publisher. Marcus Leaver, the publisher of Sterling, relies heavily on data to run his business and had noticed B&N reports that ancillary items were selling strongly. Leaver liked the idea of launching a line of journals instead of, say, the book-light business.
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HMH, Reader's Digest Overhaul Finances
Barry O'Callaghan and Ripplewood Holdings were involved with three of the biggest acquisitions in publishing circles since 2006, but the combination of recession and heavy debt loads has forced the two to dramatically alter their financial positions in the publishers they bought. O'Callaghan, through his ownership of Riverdeep, led the 2006 purchase of Houghton Mifflin and a year later the acqu...
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Sales Slip But Profits Up at Books-A-Million
Profits jumped 133% at Books-A-Million in the second quarter despite a 0.7% decline in revenue. Comp sales fell 4.9%. The company also announced a number of executive promotions.
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Self-Published Book Gets Neiman Marcus Launch
It’s the kind of marketing opportunity that experienced publishing folks often find tough to pull off, a window and launch event at Neiman Marcus. But then self-publisher Mandy Williams, the “Black” of the sister writing duo, “the Red and the Black,” is not an easy person to turn down.
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Sales Drop 5% at Barnes & Noble
Total revenue fell 5.3% at Barnes & Noble in the second quarter, to $1.16 billion with same store sales down 6.9%. Sales stores declined 5% in the period, while online sales rose 2%. Earnings from continuing operations fell 26.8%.
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Barnes & Noble Launches Out-of-Print Imprint
Barnes & Noble has added a new dimension to its publishing program, launching Barnes & Noble Rediscovers, an imprint that will republish out-of-print books in redesigned hardcovers.
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Frankfurt Book Fair: Random House Cancels Frankfurt Party
In a sign of the economic times, Random House has canceled its famed curtain-raising soiree during the Frankfrut Book Fair.
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Random House Joins Transportation Partnership
Random House has joined the SmartWay Transportation Partnership, a collaboration between the EPA and the freight industry.
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Haights Cross Struggles With Debt, Completes Recorded Books Reorg
Haights Cross is still working on a deal to repay loans with bankruptcy a possibilty. Meanwhile the company's Recorded Books subsidiary completed a restructuring in the second quarter that eliminated a total of 19 jobs.
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Borders Ups Teacher Discount
Borders announced yesterday afternoon that it is upping the discount provided to educators to 25% from 20%.
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'GQ' Editor Named to Post at Random House
Andy Ward, current executive editor of GQ, has been named v-p and executive editor of Random House's flagship imprint.
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Barnes & Noble Expands Offerings for Teachers, Parents and Librarians
Barnes & Noble is gearing up for the new school year with a few new initiatives, including new sections of its web site. B&N@School presents teachers, librarians and parents with a selection of educational toys and games. Jaime Carey, chief merchandising officer at B&N, said B&N@School complements the retailer’s recently expanded Educational Toys & Games department.
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Second Quarter Results Off at Hastings
More cautious consumers led to a decline in sales and a loss in the second quarter at Hastings Entertainment. Book comps were off 1.7%.
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Borders Hires Larry Norton, Reorganizes Paperchase U.S.
Looking to improve its supply chain and sales execution in its stores, Borders has named Larry Norton to the new position of senior v-p for merchandising and distribution. Norton had been with Simon & Schuster for 13 years, rising to president of the sales and distribution division. The company also announced today a reorganization of its Paperchase U.S. leadership team.
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