Finance

The country's largest book chain said sales dropped 6.5% in the fiscal year, ended April 29. Barnes & Noble reported lower losses in its Nook division, however, which led to a jump in operating income.

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.

Declines in John Wiley’s publishing segment offset increases in its research and solutions categories in the fiscal year ended April 30. Sales of books fell 11% in the year.

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.

Sales at Regnery jumped 48.9% in the first quarter ended March 31, largely thanks to the strong sales of David Limbaugh's 'The True Jesus.'

Sales rose 4.1% at HBG in the first quarter ended March 31, 2017 over the same period in 2016. The revenue gain was due to solid sales in HBG's Center Street division.

Revenue at the publisher rose 4% in the third quarter of fiscal 2017, to $374 million. Earnings increased 3%, to $37 million.

With the stock prices of five companies falling in April and another five rising, the Publishers Weekly Stock Index rose 3.3% in the month.

Just days after laying off over 20 people in its trade division, Houghton Mifflin Harcourt reported that revenue in the division rose 16% in the first quarter ended March 31.