Finance

Indigo Sales Dropped 12% in Q3 and Profits Plunged
February 9, 2024

Just days after it revealed that it had received an offer to take the company private, Canada's Indigo Books & Music released its financial results for the crucial holiday season—and as even CEO Heather Reisman admitted, the results were “disappointing.”

Profits Soar at HarperCollins as Audio Sales Boom
February 8, 2024

A 29% increase in sales of digital audio, coupled with lower costs, resulted in a 67% increase in profits at the publisher in the quarter ended December 31, 2023, over the comparable period a year ago. Total sales were up 4%.

Independent Publishers Group Finds Some New Directions
February 7, 2024

The biggest independent book distributor in the U.S. sees opportunities in 2024 both here and in the U.K., where it has finally stabilized the United International Distribution business it bought in 2021—and where a 2023 change in Amazon's sourcing requirements has left a hole CEO Joe Matthews says he hopes IPG can fill.

Publishing Industry Sales Were Flat in November
February 6, 2024

Gains in both the children's/young adult books and religion categories were enough to offset declines in the other major segments in November at the 1,225 publishers that report sales to the AAP.

Indigo Books & Music Gets a Buyout Offer
February 5, 2024

Two investment firms led by Canadian billionaire Gerald Schwartz—an Indigo board member, husband of founder Heather Reisman, and the company's majority owner—has made an offer to acquire the remaining shares of Canada's largest bookstore chain.