Finance

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.

U.K. publisher sales rose to £6.3 billion in 2019, 4% higher than in 2018 and 20% higher than in 2015, making 2019 the biggest year ever for U.K. publishing.

Bloomsbury said sales in the first four months of fiscal 2021, which began March 1, rose 18% over the same period a year ago. Revenue in the U.S. increased 38%, and sales of both digital and print books were up overall.

A steep decline in returns somewhat offset a drop in gross sales in May, leading a decline of 12.1% in net sales compared to May 2019. The month did see a jump in adult e-book sales, with sales rising 30.6%.

With most all bookstores closed in the month, total sales fell only 3.5% at the 1,361 publishers that report figures to StatShot.

The Publishers Weekly Stock Index fell nearly 20% in the first six months of 2020.

Barnes & Noble Education said it was surprised to learn that Outerbridge Capital, which owns 13.5% of the company, plans to nominate four of its own candidates to run for B&NE's board of directors.

Net sales declined only 3.5% in April for publishers who report to AAP's StatShot program. That small drop, however, was due to a significant decline in returns. Publishers are concerned that returns will be heavier than usual when stores reopen and start shipping back unsold titles.

Fourth-quarter sales and earnings fell at John Wiley compared to fiscal 2019 due to lower sales of print books, test prep programs, and corporate training. Sales for the year rose 2%, though a number of one-time charges led to an operating loss.

The 1,361 publishers who report to the AAP’s StatShot program saw a 8.4% decline in sales in March compared to a year ago.