Finance
August 30, 2023
The combination of its decision to streamline its business and softer industry sales resulted in revenue at Quarto Group falling 16% in the first half of 2023, to $52 million.
August 22, 2023
Double-digit sales gains in higher education course materials offset a 1% decline in sales of trade books, resulting in a 1.2% increase in sales in the first six months of 2023 at the publishers who report data to AAP.
August 11, 2023
Sales at HarperCollins fell 10% and earnings tumbled 45% in the fiscal year ended June 30, 2023. CEO Brian Murray acknowledged that 2023 was challenging, but said most of the factors that led to the declines have eased and he expects a better fiscal 2024.
August 4, 2023
Total Amazon sales rose 11% in the second quarter, with the company returning to profitability. Online sales lagged, increasing 4%.
July 31, 2023
The country's largest operator of college and high school stores reached agreements with different lenders to give it more financial flexibility, helping to avert the possibility of the company closing.
July 25, 2023
Sales at Hachette Book Group fell 8.6% in the first six months of 2023 compared to the first half of 2022, parent company Lagardère reported. Sales for all of Lagardère Publishing rose 2.5%, but profits dropped 16%.
July 20, 2023
In a week filled with bad book business news and a down year for the children's book market, Scholastic nonetheless delivered a generally upbeat financial report for its latest fiscal year—thanks in no small part to the company's booming book fair business.
July 19, 2023
A 14.1% decline in May in the children's/YA segment was offset by gains in sales of adult books and college course materials, leading to total sales in the month holding even with 2022.
July 18, 2023
The country's largest operator of college bookstores said that if it doesn't improve its financial position soon, it could issue a warning about its chances of staying in business.
June 27, 2023
Final industry estimates from the AAP show that sales of religious books fell 6% in 2022 from 2021, dropping to $1.27 billion last year from $1.35 billion in 2021. Digital audiobooks and hardcover sales fell 42% and 9.5%, respectively.
