Finance

Barnes & Noble Education said it was surprised to learn that Outerbridge Capital, which owns 13.5% of the company, plans to nominate four of its own candidates to run for B&NE's board of directors.

Net sales declined only 3.5% in April for publishers who report to AAP's StatShot program. That small drop, however, was due to a significant decline in returns. Publishers are concerned that returns will be heavier than usual when stores reopen and start shipping back unsold titles.

Fourth-quarter sales and earnings fell at John Wiley compared to fiscal 2019 due to lower sales of print books, test prep programs, and corporate training. Sales for the year rose 2%, though a number of one-time charges led to an operating loss.

The 1,361 publishers who report to the AAP’s StatShot program saw a 8.4% decline in sales in March compared to a year ago.

Led by 'The Ballad of Songbirds and Snakes,' Suzanne Collins’ prequel to her blockbuster Hunger Games series, unit sales of print books rose 5.5% last week over the week ended May 16 at outlets that report to NPD BookScan.

After a scare in March, the first quarter of its new fiscal year, Educational Development Corporation said that it now expects to have a record first period with sales between $36.5 million and $38.5 million.

Bloomsbury Publishing reported a 10% profit increase in the fiscal year ended February 29, 2020, over fiscal 2019. The publisher said its business in the current fiscal year has suffered "significant disruption" because of the coronavirus pandemic, but said it is "well placed to benefit from increased demand for our digital resources, audio, and e-books.”

Industry sales fell 8.4% in March compared to a year ago at publishers that report to AAP's StatShot program. Sales in the trade segments has small increases in the month, but sales in all other categories declined.

With sales increasing 160% last month over April 2019 in its direct sales division, Educational Development Corp. has repaid a $1.4 million loan it received under the Payroll Protection Program.

Revenue in LSC Communications’ book group dropped 21.4% in the first quarter ended March 31, 2020, falling to $204 million. Lower demand for educational materials offset an increase in its trade business, the printer, which filed Chapter 11 in April, reported.