Finance
Publishing industry sales rose 3.5% in the first two months of 2020 over the same period in 2019, according to data supplied to the AAP by 1,361 publishers for the organization’s StatShot report.
Unit sales of print books rose 10.1% last week compared to the week ended April 18 at outlets that report to NPD BookScan. Gains in the adult categories offset a quiet week for sales in the juvenile segments.
In the first two months of 2020, sales in Lagardère's worldwide publishing group were up 5.3% over the comparable period in 2019, but fell 19% in March. For April, Lagardère said it expects global publishing sales to be down 45% from April 2019.
Publishing industry sales had a nice start to the year, rising 3.5% through February, according to AAP's StatShot program. Sales of adult books were up 2.9%, and sales in the children/young adult segment rose 6.3%.
The Quarto Group posted its first profit since 2016 last year, despite a sales decline. The financial forecast for 2020 is clouded by the impact of the Covid-19 pandemic, which has already led to "falling orders and revenues," the publisher said.
Unit sales of print books fell 3.5% through April 18, 2020 compared to the same period a year ago at outlets that report to NPD BookScan. Sales of juvenile nonfiction sales were up 21.7% in the period over 2019, somewhat offsetting declines in both adult fiction and nonfiction.
Strong gains in the juvenile categories offset weakness in the adult categories in the week ended Apr. 11, 2020, resulting in a 2.9% increase in print unit sales over the comparable week in 2019 at outlets that report to NPD BookScan.
Sales from the 1,361 publishers that reported data to AAP were up 3.7% in January over January 2019.
Publishing sales got off to a decent start in 2020—but as the new coronavirus increased its grip on the country’s economy, sales have softened. The business outlook for the second quarter is, at best, uncertain.
John Wiley & Sons estimated the coronavirus outbreak will drop revenues for the fiscal year ending April 30 by about $50 million from its previous expectations. President and CEO Brian Napack remains "confident" about Wiley's future.