May Store Sales Down
Bookstore sales fell for the fifth consecutive month in May, dropping 4.3%, to $1.10 billion. Sales were also off 4.3% in the five-month period, to $6.20 billion, according to the U.S. Census Bureau. For the entire retail segment, sales were up 5.6% in May and were ahead 4.1% for the first five months of 2007.
Shifts at Borders
Ric Vanzura, executive v-p for emerging business and technology/chief strategy officer, and Bill Nasshan, senior v-p of trade books, are both leaving Borders Group. Vanzura's technology duties will be assumed by incoming CIO Susan Harwood, while Rob Gruen, executive v-p, merchandising and marketing, will take on Nasshan's duties until a successor is named.
Joining Borders are Teresa Wright and Myles Romero. Wright, who had been at Macy's, will become v-p of merchandising for the Paperchase U.S. division, while Romero, formerly with Ford, has been named v-p of strategic marketing and entertainment alliances. Both jobs are newly created.
Mixed Quarter At Courier
Total revenue increased 4%, to $73.4 million, and earnings rose 10%, to $6.7 million, at Courier for the third quarter ended June 30. Sales in Courier's printing segment rose 1%, to $58.5 million, and revenue in the publishing segment jumped 18%, to $17.9 million. Sales of Creative Homeowner, acquired by Courier at the end of the last third quarter, contributed $6.8 million in the period, compared to $4.4 million last year, though on a full quarterly basis sales were down, reflecting reduced traffic at home improvement centers.
For the first nine months of fiscal 2007, total revenue was up 15%, to $214.1 million, and net income increased 9%, to $16.3 million.
Wainwright to Crown
Katie Wainwright has been named v-p, executive director of publicity, at the Crown Publishing Group. Wainwright, who will start her new job August 1, succeeds Tina Constable, who was recently promoted. Wainwright arrives from Hyperion, where she spent the past seven years as executive director of publicity and associate publisher of trade paperbacks.
Farrar, Straus & Giroux is making its first move since 1961, leaving New York City's Union Square for new lodgings at 18 W. 18th St. in New York. The move is planned for the end of the year, possibly around the Christmas holidays. Unlike many other imprints under the Holtzbrinck Publishing umbrella (including St. Martin's, Palgrave, Picador and Tor/Forge, all of which are located in the Flatiron Building on 23rd Street), FSG is retaining its own office.
In last week's story on Dinotopia, Andrews McMeel publisher Kirsty Melville was incorrectly identified as Kirsty Finch.