The industry sales report for 2016 found that total sales for the industry fell 6.6%, compared to 2015. Based on sales from 1,207 companies that report to AAP, total sales last year were $14.25 billion, down from $15.26 billion in 2015.
Despite posting record revenues and a 35% increase in net earnings in the fiscal year ended February 28, Educational Development Corp. faced numerous challenges in 2017, including the inability to keep up with customer demand.
Led by strong gains in its children’s publishing division, revenue at Bloomsbury rose 15% in the fiscal year ended February 28, 2017 over fiscal 2016. Profits slipped, however, dropping to £9.4 million from £10.3 million in fiscal 2016.