Sales, Earnings Fell at Simon & Schuster in 2014
Revenue and profits fell in 2014 at Simon & Schuster, parent company CBS reported. Sales declined 3.8%, to $778 million, while operating profit dropped 5.6%, to $101 million.
The publisher, which saw sales and earnings rise in 2013, closed 2014 on a soft note with sales down 4.4% in the fourth quarter, compared to the final period of 2013, and operating income down 30%.
S&S CEO Carolyn Reidy said 2013 had a number of positive sales surprises--including several Duck Dynasty books and The Great Gatsby--that weren't repeated in 2014.